US Bank Guarantees $66 Million for Power Equipment Exports to Turkey
The US Export-Import Bank (Ex-Im Bank) has guaranteed $66.3 million to facilitate the export of American power plant to Bis Enerji Elektrik Uretim AS (Bis) of Turkey. Ex-Im Bank's financing will support more than 160 American jobs in Houston, Texas; Wellsville, N.Y.; Orlando, Fla.; and Lewiston, Maine. "Ex-Im Bank's loan guarantee affords the U.S. companies involved an opportunity to export their American-made products to a Turkish market hungry for electricity," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Equally important is the loan guarantee's impact on American jobs, which will benefit from the increased business."Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers.
In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance, and financing to help foreign buyers purchase U.S. goods and services.
Ex-Im Bank total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country. (Source: http://www.egovmonitor.com)
Last modified onSaturday, 06 May 2017 10:07
Latest from Admin TOA
- 16-Year-Old Researcher in Istanbul Builds an Open-Access Archive on the World Trade Center and September 11
- From Kırşehir to the World: Duru Zaman Builds Connections Across Healthcare and Technology
- The Hidden Economics of Port Operations Becomes a Book
- TOA Awards 2026 Announces The 100 Most Influential Turkish Americans
- The AI Imperative
