US Bank Guarantees $66 Million for Power Equipment Exports to Turkey

August 27, 2012
Written by Admin TOA
Published in 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)

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