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 around African Press Organization (APO)/ — In a initial 3 buliding of FY 2012, a Export-Import Bank of a United States (Ex-Im Bank) authorized a ancestral $1.5 billion in financing to support U.S. exports to sub-Saharan Africa, leading a prior record of $1.4 billion for a whole year in FY 2011.
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The boost was driven by trade expansion in several sectors, including machinery, vehicles and parts, line and aircraft. Two of a tip markets for U.S. exports in a segment are South Africa and Nigeria, that are among Ex-Im Bank’s 9 pivotal nation markets.
“Proportionately, Ex-Im Bank supports some-more U.S. exports to sub-Saharan Africa than it does to a universe during 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