Outlines How EXIM Programs and Financing Tools Can Deliver Relief
WASHINGTON: Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today held a virtual discussion with the U.S. Chamber of Commerce and the American Chamber of Commerce in Italy (AmCham), outlining COVID- 19 relief measures for Italian companies that buy goods and services from the United States.
The Chairman discussed EXIM’s COVID-19 relief measures, the economic reopening of both countries, and President Trump’s Memorandum on Providing COVID-19 Assistance to the Italian Republic, which directs EXIM to use available authorities to support the recovery of the Italian economy. She also discussed opportunities for collaboration between EXIM and Servizi Assicurativi del Commercio Estero (SACE), Italy’s export credit agency.
Chairman Reed underscored how EXIM financing tools support transactions that benefit America’s exporters and workers while also helping Italy, one of the United States’ closest and oldest allies. The audience of more than 40 participants included businesses, lenders, and government representatives from the United States and Italy. Also participating in the event were:
“As Americans and Italians recover from the deadly effects of COVID-19, the strong economic and cultural ties between our two nations are more important and meaningful than ever,” said Chairman Reed. “While the U.S. government’s first responsibility is to the American people, we are a nation of compassion, and we want to help as much as we can. The U.S. Chamber of Commerce and the American Chamber of Commerce in Italy are critical in finding the opportunities where EXIM assistance is needed to address today’s unprecedented challenges.”
The event followed meetings Chairman Reed recently held via teleconference with U.S. Ambassador to Italy Lewis M. Eisenberg on June 10 and with Ambassador of Italy to the United States Armando Varricchio on June 8.
Chairman Reed also discussed EXIM’s new Program on China and Transformational Exports, established in EXIM’s historic reauthorization, which is intended to help level the playing field for U.S. exporters and workers by directly neutralizing export subsidies for competing goods and services offered by the People’s Republic of China. In May, EXIM launched its “Strengthening American Competitiveness” initiative, beginning with a series of teleconferences with American businesses and stakeholders. A full schedule of upcoming teleconferences and recordings of previous events can be found here.
“The commercial relationship between the United States and Europe is the largest and most important in the world,” said Chorlins. “Rejuvenating our economies in the wake of the pandemic and economic crisis will jumpstart global growth and promote an inclusive recovery. We look forward to collaborating with our partners at the U.S. Export-Import Bank, and our global network of American Chambers of Commerce, to expand trading opportunities with Italy and other partners in Europe.”
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