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FOR IMMEDIATE RELEASE OCTOBER 31, 2001 Contact: Michael Suydam (202) 565-3200 EX-IM ANNOUNCES THE OPENING OF SHORT- AND MEDIUM-TERM FINANCING IN MONTENEGRO Director D. Vanessa Weaver Announces Move During Ex-Im's Southeast Europe Regional Conference in Croatia U.S. exporters looking to do business in Montenegro will now have the option of Export-Import Bank of the United States (Ex-Im Bank) financing. Effective immediately, Ex-Im Bank (www.exim.gov) will consider applications for short- and medium-term financing of U.S. exports to Montenegro's private sector. Transactions approved under the program would be the first Ex-Im Bank-supported U.S. sales to Montenegro since the end of Balkan region hostilities. "Southeast Europe has enormous potential," said Ex-Im Bank Director D. Vanessa Weaver during an address in Dubrovnik, Croatia. "Our goal is to create opportunities for Southeast Europe to become a prosperous region in Europe and to develop long-lasting, trusting relationships between the U.S. and the region." Ex-Im Bank will consider structured financing arrangements such as limited recourse project finance in individual cases that offer a reasonable assurance of repayment. "Ex-Im Bank has supported more than $1 billion in U.S. exports to Southeast Europe in the last few years," concluded Weaver. "If we stay the course, we will have the satisfaction of looking back in 10 or 20 years on a region that is a reliable, prosperous and stable market for U.S. goods and services." Ex-Im Bank is an independent U.S. government agency that helps finance the sale of U.S. exports primarily to emerging markets throughout the world, by providing loans, guarantees, and insurance. In fiscal year 2001, Ex-Im Bank supported $12.5 billion of U.S. exports worldwide. |
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