MEDIA RELEASE PR40082
Eleven Indonesian Banks Pre-Approved for Ex-Im Bank Financing Under $1 Billion Bank
Facility
JAKARTA, Indonesia, June 19 /PRNewswire-AsiaNet/ --
The Export-Import Bank of the United States (Ex-Im Bank) announced today that it has
pre-approved 11 Indonesian banks to receive expedited financing under a $1 billion bank
facility to support U.S. exports to Indonesia.
The 11 Indonesian banks are Indonesia Eximbank, Bank Mandiri, Bank Negara
Indonesia, Bank Rakyat Indonesia, Bank Central Asia, Bank Danamon, Panin
Bank, Bank CIMB-Niaga, Bank OCBC Indonesia, Bank International Indonesia and
Bank UOB Buana.
Ex-Im Bank Chairman and President Fred P. Hochberg announced the new bank
facility today at a meeting with Indonesia's Coordinating Ministry in
Jakarta.
"With its diverse and growing economy, Indonesia offers great
opportunities for U.S. exporters in many sectors. This bank facility will
enable Indonesian companies to access Ex-Im Bank-backed financing from their
local banks and help Ex-Im Bank approve these transactions more quickly,"
Hochberg said.
"We anticipate that this bank facility will be very attractive to
borrowers because of the currently low rates and the fixed-interest rate
options," he added.
The bank facility will support U.S. exports to Indonesia on short, medium
and long repayment terms. Both public-sector and private-sector borrowers are
eligible.
Applications for Ex-Im Bank financing involving the 11 Indonesian banks
can be approved by Ex-Im Bank's board of directors and senior officials
through an expedited process because each bank has been pre-approved for
credit up to an established limit per bank. Total financing under the
facility could reach more than $1 billion.
Ex-Im Bank, an independent, self-sustaining federal-government agency,
exists to fill gaps in export financing, strengthen U.S. export
competitiveness, and create and maintain U.S. jobs. The Bank provides a
variety of financing mechanisms, including working capital guarantees to help
small and medium-sized U.S. businesses, export-credit insurance to protect
against nonpayment by foreign buyers, and loan guarantees and direct loans to
assist foreign buyers of U.S. goods and services.
In fiscal 2009, overall Ex-Im Bank financing totaled $21 billion, and
authorizations supporting small-business exports reached a historic high of
$4.4 billion, nearly 21 percent of total authorizations.
Ex-Im Bank authorized $279.5 million for U.S. exports to Indonesia in
fiscal 2009, including financing for Sikorsky helicopters to P.T. Travira
Air.
In fiscal 2009 and 2010, Ex-Im Bank has authorized almost $1 billion in
financing to support the export of up to 30 Boeing 737-8000ER aircraft with
CFM International aircraft engines to Lion Air, a private-sector airline in
Indonesia.
In the first seven months of 2010, the Bank authorized nearly $15.2
billion in loans, guarantees and insurance - more than twice the amount
authorized in the same period in fiscal 2009. For more information, see Ex-Im
SOURCE: Export-Import Bank of the United States
CONTACT: Phil Cogan
cell: +1-202-746-1676 or
Linda Formella
+1-202-565-3200
both of the Export-Import Bank of the United States
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