Ex-Im Bank Approves Financing to Export American Power-Generation Equipment
June 18, 2014
(Ex-Im Bank)
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."
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