- Leaders of the US Export-Import Bank, which finances the sale of American exports, are on a round trip in Cape Verde, Nigeria, Ghana and Mali to promote US exports to these four West African countries. The region is described as "a priority" for the Bank, and the leaders are meeting with top state officials.
Joseph Grandmaison, a member of the board of directors of the Export-Import Bank of the United States (Ex-Im Bank), is heading an Ex-Im Bank delegation to four West African countries 14-25 June to "further Ex-Im Bank's business development efforts in the region," according to a release by the bank today.
The Ex-Im Bank is the official export credit agency of the US. It aims at helping finance the sale of US exports, primarily to emerging markets throughout the world, by providing loan guarantees, export credit insurance and direct loans. Last year, the bank authorised financing to support US$ 14.3 billion of American exports worldwide.
- Sub-Saharan Africa continues to be a priority for Ex-Im Bank, Mr Grandmaison said. "Last year, Ex-Im Bank had its best year ever in Sub- Saharan Africa. However, we are not resting on our laurels but working even harder to do more this year," he added.
The Ex-Im Bank officials have already visited Cape Verde, are currently in Nigeria and will go on to Ghana on 20 June. The roundtrip is ended in Mali on 24 June. In the four countries, they are meeting with business, banking and government leaders "to explore US export opportunities in those markets."
In Cape Verde, the mission has met with Minister of Economy, Growth and Competitiveness, Joăo Silva Monteiro, Minister of Foreign Affairs Victor Borges, and Minister of Infrastructure and Transportation Manuel Inocencio Sousa. In Mali, the group will meet with Minister of Economy and Finance Abu Bakar Traoré, and Minister of Investment and Private Sector Ousmane Thiam.
The Ex-Im Bank officials say they are to "hold outreach sessions for the local business communities in the host countries to describe Ex-Im Bank financing services."
- Ex-Im Bank's primary mission is to facilitate the procurement of U.S. goods and services by creditworthy overseas buyers, thereby creating US jobs, Mr Grandmaison said. "In the process of achieving this mission, Ex-Im Bank brings affordable medium-term financing to African countries where such financing is unavailable," he added.
Ex-Im Bank's delegation includes Vice President for Credit Underwriting Kenneth Tinsley, Credit Officer Thomas Matthias, Bert Ubamadu of the General Counsel's Office, Staff Economist Manli Zhang and Business Development Officer Maureen Scurry.
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