US Ex-Im and UPS Capital support exports to Guatemala

US Ex-Im has approved a US$9.9mn medium-term loan guarantee to support exports of industrial gas manufacturing equipment to Guatemala. The guaranteed lender on the deal is UPS Capital and the exporters are two companies Chart and Cosmodyne.

Guatemalan company Productos del Aire de Guatemala is purchasing a new plant and equipment to replace and upgrade existing facilities.

US Ex-Im’s involvement is fuelled by two factors, the need to create and maintain jobs in the US, and support exports under the Central America Free Trade Agreement-Dominican Republic (CAFTA-DR).

The deal comes as US Ex-Im Bank vice chairman Linda Conlin participates in a business development mission to the Dominican Republic and Costa Rica, headed up by US commerce secretary Carlos Gutierrez. The purpose of the mission is promote US exports and investment in the region, and highlight opportunities for US businesses resulting from the CAFTA-DR agreement.

"US Ex-Im Bank anticipates its regional business will grow significantly over the next year, with total outstanding financing reaching US$1bn in 2009," comments Conlin.
"Implementation of the free trade agreement and the resulting increase in US exports will ensure that the CAFTA-DR region remains an important strategic market for American exporters and US Ex-Im Bank in the future."