EXIM Signs Memorandum of Understanding with the National Bank of Uzbekistan
May 16, 2018
(Ex-Im Bank)
Washington, D.C. – Today the Export-Import Bank of the United States (EXIM)
entered into a memorandum of understanding (MOU) with the National Bank for
Foreign Economic Activity of the Republic of Uzbekistan (National Bank of
Uzbekistan) to increase trade and economic cooperation between the United States
and Uzbekistan.
At Blair House in Washington this evening, Ambassador Jeffrey D. Gerrish,
EXIM’s acting president and chairman of the Board of Directors, signed the MOU
with Alisher Mirsoatov, chairman of the Management Board of the National Bank
for Foreign Economic Activity of the Republic of Uzbekistan.
The signing was witnessed by Uzbekistan President Shavkat Mirziyoyev, who is on
an official visit to the United States on May 16-17. EXIM’s MOU signing was
part of a multi-agency event where separate MOUs were signed by U.S. Departments
of Energy, Agriculture, and Commerce, as well as the Overseas Private Investment
Corporation and the U.S. Agency for International Development, among others.
“This MOU recognizes the mutual benefits of trade between the United States
and Uzbekistan. EXIM stands ready to support Uzbekistan’s purchases of goods
and services produced by American workers,” said Acting Chairman Ambassador
Jeffrey Gerrish. “We anticipate that the EXIM-supported financing to follow
from this agreement could support jobs in multiple industries across the United
States.”
Under the MOU, EXIM and the National Bank of Uzbekistan agreed to exchange
information on business opportunities to further the procurement of U.S. goods
and services by both state-owned and private-sector small and medium-sized
businesses in Uzbekistan. Sectors for business development include oil and gas
development, energy production, mining, construction, telecommunications, health
care, and transportation, including aircraft.
EXIM agreed to explore options for providing the bank’s medium- and long-term
guarantees or loans of up to $100 million to support U.S. exports to Uzbekistan.
Access to EXIM financing is subject to the bank’s approval for each individual
transaction and must comply with the terms for EXIM’s financing. Depending
upon the size and nature of the transaction, EXIM may require a sovereign
guarantee.
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