US Ex-Im Bank has announced a new Transportation Security Exports Program. It provides enhanced financing for US exports of products and services that improve the security of international transportation systems. Enhanced export financing will be available to support US exports of machinery, equipment, goods, and services for a wide range of security-related functions, including:
- Screening and identification of cargo, baggage and passengers
- Data collection and analysis
“Ex-Im Bank’s Transportation Security Exports Program is designed to help US exporters provide state-of-the-art equipment, technology, and services to countries that are seeking to improve the security of their cross-border transportation systems,” says Ex-Im chairman Phillip Merrill. “We anticipate that our financing enhancements will be very attractive to buyers involved in foreign transportation security projects.”
Under the new programme, Ex-Im Bank offer financing enhancements for exports related to US transportation security or for foreign transportation security projects, similar to the bank’s enhanced financing for environmentally beneficial exports or exports of medical equipment. These enhancements are: 1) the maximum allowable repayment terms under the guidelines of the OECD, and 2) support for local costs up to 15% of the US net contract value.
Ex-Im Bank’s Transportation Security Exports Program is now available in every country where the bank is open to provide export financing. Ex-Im’s initiative complements a number of other US government programmes, such as the secured trade in the Apec Region (STAR) initiative to increase international security cooperation among the nations of the Asian Pacific region and the “Smart Border” programmes with Mexico and Canada.