Ex-Im Authorizes $5.4 Billion in Export Financing, Supporting Approximately 21,000 U.S. Jobs in Final Board Meeting of Fiscal Year

Sep 27, 2012, 16:28 ET from Export-Import Bank of the United States

WASHINGTON, Sept. 27, 2012 /PRNewswire-USNewswire/ -- Today, during the final board meeting of the fiscal year, the Export-Import Bank of the United States (Ex-Im Bank) authorized more than $5.4 billion in export financing that will support more than 21,000 American jobs.

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"Today's transactions will sustain or create more than 21,000 U.S. jobs and put us one step closer to reaching President Obama's National Export Initiative goals," said Ex-Im Bank Chairman Fred P. Hochberg. "American companies and workers create the best products in the world, and that is why businesses from Jeddah to Sao Paulo want "Made in the USA" labels on the products and services that they purchase."

Today's approved transactions include $4.9 billion to Sadara Chemical Company for the export of American goods and services for the construction of a petrochemical complex; $125 million to Vietnam for satellites; $105 million for the State Government of Ceara for a state-of-the-art aquarium in Brazil; and approximately $241 million for aircraft in Ireland and the United Arab Emirates.

About Ex-Im Bank:

Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.

Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales -- also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country. For more information, visit www.exim.gov

SOURCE Export-Import Bank of the United States