May 13, 2020/EXIM US

President and Chairman of the Export-Import Bank of the United States (EXIM) Kimberly A. Reed met today via teleconference with U.S. Ambassador to the African Union Jessica Lapenn to address how EXIM can help American businesses export their “Made in the U.S.A.” goods and services to the African continent.

During the meeting, Chairman Reed and Ambassador Lapenn discussed the COVID-19 global pandemic response.  More broadly, they also underscored the importance of engagement with the African Development Bank, the African Export-Import Bank, and other institutions in the region.

Building on their meetings and roundtable with U.S. and African business leaders, government officials, and stakeholders that took place in Pretoria, South Africa in May 2019 when Chairman Reed led the U.S. Presidential Delegation to the inauguration of His Excellency Cyril Ramaphosa, President of the Republic of South Africa, Chairman Reed and Ambassador Lapenn pledged to continue to work together to advance U.S. exports to Africa, which create economic growth and prosperity in both the United States and Africa.

They also reviewed EXIM’s historic seven-year Congressional reauthorization, which, in part, establishes a new program on China and Transformational Exports to support the extension of loans, guarantees, and insurance, at rates and on terms and other conditions, to the extent practicable, that are fully competitive with rates, terms, and other conditions established by the People’s Republic of China.  The program has the aim of supporting U.S. innovation, employment, and technological standards through direct exports globally, including to Africa, in ten transformational export industries, such as wireless communications, biomedical sciences, biotechnology, renewable energy, and water treatment and sanitation.

EXIM has a legislative mandate to support projects throughout sub-Saharan Africa and participates the U.S. government’s Prosper Africa program and the President’s Advisory Council on Doing Business in Africa (PAC-DBIA). The agency also receives guidance and advice from the congressionally mandated Sub-Saharan Africa Advisory Committee regarding EXIM policies and programs designed to encourage the expansion of financing support for U.S. manufactured goods and services in sub-Saharan Africa.