EXIM Reopens for Business in Argentina
September 14, 2016
(Ex-Im Bank)
Washington, D.C. – Fred P. Hochberg, chairman and president of the Export-Import
Bank of the United States (EXIM), today announced in Buenos Aires that the Bank
will resume offering short- and medium-term financing in Argentina after being
closed to sovereign transactions for more than 15 years.
The opening, which applies to both Argentina’s public and private sectors,
follows a U.S. Government interagency evaluation of country prospects, the
results of which reflect an improved economic and financial environment in
Argentina and therefore indicate better repayment prospects. Nearly 15 years
have elapsed since EXIM was last open for sovereign transactions in Argentina.
“I am pleased to announce that, effective September 21, EXIM is open in
Argentina,” said Chairman Hochberg. “This opening is due in large part to the
meaningful reforms implemented by President Macri and the Government of
Argentina. This is an opportune time for cooperation between U.S. and Argentine
businesses, and EXIM stands ready to provide the financing necessary to
facilitate mutually beneficial partnerships.”
As part of the change, the Bank will offer financing terms of up to seven years.
Additionally, the Bank will consider supporting structured, longer-term
financing.
Argentina was once one of EXIM’s largest and most diverse markets. The Argentine
economy holds opportunities in a range of sectors, including commercial,
business, and agricultural aircraft; helicopters; farm, power, and medical
equipment; and satellites.
At the same time, EXIM is well positioned to capitalize upon the momentum
unleashed by Argentina’s recent efforts to promote renewable energy, and support
hydroelectric, solar, and wind projects that are materializing throughout the
country.
The Bank supported the construction of the Pan-American Highway in the 1940s and
1950s and backed the Entidad Binacional Yacyretá hydroelctric project in
Corrientes in 1982.
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