• ITVI.USA
    12,674.250
    198.920
    1.6%
  • OTLT.USA
    2.867
    0.004
    0.1%
  • OTRI.USA
    8.630
    0.020
    0.2%
  • OTVI.USA
    12,726.660
    201.030
    1.6%
  • TSTOPVRPM.ATLPHL
    2.780
    -0.050
    -1.8%
  • TSTOPVRPM.CHIATL
    2.390
    -0.270
    -10.2%
  • TSTOPVRPM.DALLAX
    1.800
    -0.040
    -2.2%
  • TSTOPVRPM.LAXDAL
    2.160
    -0.030
    -1.4%
  • TSTOPVRPM.PHLCHI
    1.990
    -0.020
    -1%
  • TSTOPVRPM.LAXSEA
    2.880
    -0.060
    -2%
  • WAIT.USA
    125.000
    6.000
    5%
  • ITVI.USA
    12,674.250
    198.920
    1.6%
  • OTLT.USA
    2.867
    0.004
    0.1%
  • OTRI.USA
    8.630
    0.020
    0.2%
  • OTVI.USA
    12,726.660
    201.030
    1.6%
  • TSTOPVRPM.ATLPHL
    2.780
    -0.050
    -1.8%
  • TSTOPVRPM.CHIATL
    2.390
    -0.270
    -10.2%
  • TSTOPVRPM.DALLAX
    1.800
    -0.040
    -2.2%
  • TSTOPVRPM.LAXDAL
    2.160
    -0.030
    -1.4%
  • TSTOPVRPM.PHLCHI
    1.990
    -0.020
    -1%
  • TSTOPVRPM.LAXSEA
    2.880
    -0.060
    -2%
  • WAIT.USA
    125.000
    6.000
    5%
American ShipperShipping

Ex-Im Bank signs MOU with Philippine Energy Department

   The U.S. Export-Import Bank and the Philippine government’s Department of Energy entered a memorandum of understanding Friday to exchange information related to matching development needs in the Philippines with goods and services offered by American exporters.
   More specifically, the MOU targets renewable-energy and liquefied natural gas projects in the hopes of upgrading and expanding the Philippine energy supply in the wake of Typhoon Yolanda.
   “Since 1993, Ex-Im Bank has provided $1.3 billion in energy-sector finance to the Philippines, but we aim to outdo ourselves and target another billion with this memorandum of understanding,” said Ex-Im Bank Director Patricia Loui in a statement. “Our expertise can contribute both to the renovation of current energy-production facilities and the construction of new ones.”
   In 1994, Ex-Im Bank financed the first project-finance transactions in the Philippines for geothermal energy — Cebu Geothermal for $170 million, and Mahanagdong Geothermal project for $211 million.

Chris Gillis

Located in the Washington, D.C. area, Chris Gillis primarily reports on regulatory and legislative topics that impact cross-border trade. He joined American Shipper in 1994, shortly after graduating from Mount St. Mary’s College in Emmitsburg, Md., with a degree in international business and economics.