Ex-Im Bank Approves Record $1.5 Billion in Financing of U.S. Exports to Sub-Saharan Africa in First Three Quarters of FY 2012
Ex-Im Bank Approves Record $1.5 Billion in Financing of U.S. Exports to Sub-Saharan Africa in First Three Quarters of FY 2012
Ex-Im Bank Expands Cover Policy in Cameroon, Ethiopia, Tanzania and Angola
WASHINGTON, Aug. 10, 2012 /PRNewswire via African Press Organization (APO)/ — In the first three quarters of FY 2012, the Export-Import Bank of the United States (Ex-Im Bank) approved a historic $1.5 billion in financing to support U.S. exports to sub-Saharan Africa, surpassing the previous record of $1.4 billion for the entire year in FY 2011.
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The increase was driven by export growth in several sectors, including machinery, vehicles and parts, commodities and aircraft. Two of the top markets for U.S. exports in the region are South Africa and Nigeria, which are among Ex-Im Bank’s nine key country markets.
“Proportionately, Ex-Im Bank supports more U.S. exports to sub-Saharan Africa than it does to the world at large. Last year, we financed 6.7 percent of U.S. exports to this region. With this new record in sub-Saharan authorizations already achieved in FY 2011, we are La suite...
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