EX-IM BANK $1 BILLION PROGRAM READY TO FINANCE US EXPORTS TO VENEZUELA TO REBUILD AFTER FLOOD DAMAGE
The Export-Import Bank of the United States (Ex-Im Bank) has $1 billion in financing ready to
assist Venezuela in purchasing US goods and services which can be used to rebuild in the wake of
its flood disaster. Private Venezuelan businesses may access the Ex-Im Bank program through
US-based commercial banks, through the US Foreign Commercial Service at the US Embassy in
Caracas, or by calling Ex-Im Bank Business Development Officer Kenneth Gross at
202-565-3928. Government buyers may reach Ex-Im Bank through Venezuela's Ministry of
"As Venezuela rebuilds from the flood, Ex-Im Bank stands behind its offer of $1 billion in financing
initiated last June and is now fully ready to accept applications from Venezuelan businesses large and
small," Ex-Im Bank Chairman James A. Harmon said.
The financing can be used to purchase US goods and services for projects such as road building,
emergency housing, potable water provision, and hazardous waste and sewage disposal.
Harmon and then-Venezuelan Minister of Finance Maritza Izaguirre signed an agreement last June
which would support up to $1 billion in US exports purchased by businesses in Venezuela. The
agreement makes available funds for small, medium-sized and large businesses and government
entities to purchase US-made products at attractive interest rates. Ex-Im Bank offers three types of
financing for businesses in the public and private sector in Venezuela: loans, guarantees and
Ex-Im Bank authorized $330 million in financing in support of US exports to Venezuela in fiscal year
1999. Already in fiscal year 2000, Ex-Im Bank has authorized $273 million for exports to Venezuela
including wastewater treatment equipment, ambulances, trucks, refuse systems and electrical
Ex-Im Bank is an independent US government agency that helps finance the sale of US exports
primarily to emerging markets throughout the world, by providing loans, guarantees, and insurance.
Ex-Im Bank supported nearly $17 billion in exports worldwide in fiscal year 1999.