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"The MOU underscores our continued cooperation with our partners in
Dubai and helps ensure that American exporters are not disadvantaged by foreign companies relying upon state-driven capital," said Chairman Hochberg. "The more orders American exporters fill in
Dubai, the more American jobs we can support."
According to the agreement, "DEC and Ex-Im Bank anticipate that as much as
$5 billion in export-credit support may be approved to finance DEC's members' and customers' procurement of U.S. goods and services for a variety of
Dubai infrastructure projects."
Potential areas of cooperation include, but are not limited to, air-traffic control and airport infrastructure; railway, urban-metro, and port-development projects; power generation; oil, gas, and petrochemical projects; and water-treatment projects.
In FY 2012
Im Bank approved approximately
$3.32 billionin U.A.E. authorizations.
ABOUT EX-IM BANK:Ex-
Im Bank is an independent federal agency that creates and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years (from Fiscal Year 2008), Ex-Im Bank has earned for U.S. taxpayers nearly
$1.6 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to assist foreign buyers purchase U.S. goods and services.
Im Bank approved
$35.8 billion in total authorizations in FY 2012 – an all-time Ex-Im record. This total includes more than
$6.1 billion directly supporting small-business export sales – also an Ex-Im record. Ex-
Im Bank's total authorizations are supporting an estimated
$50 billion in U.S. export sales and approximately 255,000 American jobs in communities across the country. For more information, visit
SOURCE Export-Import Bank of
the United States