The Liaocheng people's hospital in the Shandong province of China has secured a supply of diagnostic medical equipment from four major US manufacturers, via a US Ex-Im backed loan guarantee.
HSBC Bank has raised a seven-year US$4.5mn loan for the Export-Import Bank of China. US Ex-Im is guaranteeing the loan on behalf of the Chinese buyer, Instimpex International Tendering Company in Beijing, who will then pass on the supplies to the hospital.
The transaction carries the sovereign guarantee of China's Ministry of Finance, and is the first deal to be concluded under US Ex-Im’s framework agreement with China’s ministry of finance signed in January 2005. The deal also qualifies for longer repayment terms and local-cost financing under US Ex-Im’s medical equipment initiative.
US suppliers involved are Hologic, Eastman Kodak, Medrad, and Siemens Medical Solutions. The type of goods being exported included ultrasound equipment manufactured by Siemens in California. The exports are being provided via US firm Chindex International.
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