Ex-Im Bank to provide export insurance...
July 23, 2010
THE EXPORT-Import Bank of the United States (Ex-Im Bank) will be offering export insurance to US firms trading with Iraq after opening an office in the country Ex-Im Bank describes itself as a self-sustaining federal-government agency. Its aim is to help finance short-term and medium-term sales of US exports to Iraqi buyers in both the public and private sectors. The bank claims it can provide export-credit insurance, loan guarantees and direct loans for creditworthy export sales to Iraq. Short-term insurance is available for transactions with repayment terms of 180 days or less, and up to 360 days for capital goods. Medium-term insurance, loan guarantees and loans are available for transactions with terms of up to seven years. Bijan Kian, a member of the Ex-Im Bank board, explained: “Iraq’s economy is growing, offering specific opportunities for US exporters in a variety of industries....