The Export-Import Bank of the United States (Ex-Im Bank) has now opened in Iraq to help finance shortterm and medium-term sales of US exports to Iraqi buyers in both the public and private sectors.
‚ÄúIraq‚Äôs economy is growing, offering specific opportunities for US exporters in a variety of industries, and Ex-Im Bank can help by reducing the repayment risk, especially for small businesses,‚ÄĚ said Ex-Im Bank board member Bijan R. Kian.
Ex-Im Bank is able to provide export-credit insurance, loan guarantees and direct loans for creditworthy export sales to Iraq. Short-term insurance is available for transactions with repayment terms of 180 days or less, and up to 360 days for capital goods. Medium-term insurance, loan guarantees and loans are available for transactions with terms of up to seven years.
The bank can also consider long-term support in cases where there are financing arrangements that eliminate or externalise country risks, such as asset-backed financings and structures that earn revenues offshore in a third country.