EXIM Announces Reciprocal Co-Financing Agreement with Japan's NEXI
November 4, 2019
(Ex-Im Bank)
Bangkok – The Export-Import Bank of the United States (EXIM) and Nippon Export
and Investment Insurance of Japan (NEXI) announced today that they have
completed a reciprocal co-financing agreement. EXIM and NEXI are the export
credit agencies (ECAs) of the United States and Japan, respectively.
The co-financing agreement was signed by EXIM President and Chairman Kimberly A.
Reed, and NEXI Chairman and CEO Atsuo Kuroda at the Indo-Pacific Business Forum
during the East Asia Summit held in Bangkok, Thailand.
“EXIM is very pleased to enter into a new reciprocal co-financing agreement
with NEXI,” said EXIM President and Chairman Kimberly A. Reed. “This
agreement demonstrates government-to-government cooperation between the United
States and Japan in accord with the Indo-Pacific Strategy and is part of the
U.S.-Japan Economic Dialogue. We look forward to working with NEXI to expand
export opportunities in both of our countries.”
“We agree to expand our collaboration further, by making the co-financing
agreement reciprocal,” said NEXI Chairman and CEO Atsuo Kuroda. “It will be
more possible for Japanese companies to collaborate with American companies in
infrastructure projects and is expected to expand investment by Japanese and
American companies in the Indo-Pacific region. We will continue to contribute to
the development of infrastructure projects in the ‘free and open Indo-Pacific
region.’”
Prior to the new agreement, EXIM and NEXI worked together under a co-financing
agreement wherein only EXIM could act as the lead ECA. In light of the increased
U.S.-Japan cooperation under several initiatives of the administration of
President Donald J. Trump, EXIM and NEXI entered into the new agreement wherein
either ECA can act as the lead on future transactions to be co-financed by both
EXIM and NEXI. The expanded scope of the agreement is anticipated to facilitate
greater business opportunities for exporters of both nations.
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