Cinnaminson, NJ- The Export-Import Bank of the United States (EXIM) has reinstated its program of financing Argentina’s public and private business sectors following a 15 year suspension.
The EXIM Bank post:
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.
FormerFeds LLC
The members of the FormerFedsGroup have unparalleled expertise in the areas of US government fraud and other white collar crime investigations and prosecutions. Our professional staff have over 20 years of federal law enforcement service, and we are able to bring this wealth of practical experience and insights to deploy on behalf of our clients. If you are concerned that your organization may be in the government’s crosshairs, a call to the FomerFedsGroup is always the right move. We will discuss your situation in complete confidence, and provide you with our honest opinion as to whether or not we can be of service. As we are not a law firm, we cannot provide legal advice, but we are very comfortable working with your inside or outside counsel, if that is what the situation calls for. Whether you are just bolstering your compliance systems, or preparing for a government investigation, it’s always a good idea to have Former Feds in your corner. Surrounding yourself with FormerFeds Who Share Your Mission is only one phone call away +1 (888) 486 (FEDS).