Thursday, June 19, 2014

EXPORT-IMPORT BANK GUARANTEES $15 MILLION LOAN FOR POWER-GENERATION EQUIPMENT EXPORT

FROM:  U.S. EXPORT-IMPORT BANK 
Ex-Im Bank Approves Financing to Export American Power-Generation Equipment
Deal Supports U.S Manufacturing Competitiveness and Supports 100 American Jobs

Washington, D.C. – The Board of the Export-Import Bank of the United States (Ex-Im Bank) has voted to guarantee a $15 million loan extended by Rabobank International of Utrecht, Netherlands, to Energyst B.V. to facilitate the export of Caterpillar power-generation equipment.

According to Bank estimates derived from Departments of Commerce and Labor data and methodology, the credit will support approximately 100 U.S. jobs.

“Ex-Im Bank’s financing will support the export of important power-generation equipment made here in America and for potential use in Africa or Latin America” said Export-Import Bank Chairman and President Fred P. Hochberg. “In the process, the transaction will support approximately 100 U.S. jobs. This deal is a great example of how Ex-Im Bank’s financing helps American exporters close sales overseas and support jobs at home.”

Energyst, a Caterpillar-trademarked equipment rental operator based in Breda, Netherlands, plans to expand its power fleet to enable the company to be competitive in the International Power Projects market in South America and Sub-Saharan Africa, among other regions. The financed equipment is designed for rapid deployment globally and can provide temporary turnkey power.

The transaction could potentially contribute to President Obama’s Power Africa initiative, which aims to increase access to power in sub-Saharan Africa – where more than two-thirds of the population is without electricity. It will help countries develop newly-discovered resources responsibly, build out power generation and transmission, and expand the reach of mini-grid and off-grid solutions.

“Caterpillar applauds Ex-Im Bank for approving the financing request for power generation equipment for Energyst,” said Jim Umpleby, Caterpillar Inc. group president with responsibility for Energy & Transportation. “By backing this project, Ex-Im Bank is bolstering U.S. manufacturing competitiveness, supporting American jobs, promoting exports and helping Caterpillar and our dealers meet increasing global energy demand."

Search This Blog

Translate

White House.gov Press Office Feed