
EXIM Reopens for Business in Argentina
Wednesday, 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.