Banco Latinoamericano de Exportaciones (Bladex), a multinational bank headquartered in Panama City can now provide medium-term loans supported by guarantees from US Ex-Im Bank for US exports to Latin America and the Caribbean. Bladex has signed a master guarantee agreement (MGA) with Ex-Im that provides the financing framework to facilitate Ex-Im Bank’s medium-term loan guarantees for US export sales to buyers in 23 countries in the region. Ex-Im’s medium-term financing typically supports transactions on repayment terms of one year to five years.
“Bladex and Ex-Im Bank have the potential for a very successful partnership that can enhance trade between the United States and Latin America and help both US and Latin American companies to grow and sustain jobs,” Ex-Im Bank board member Linda Conlin said at the signing ceremony held at Ex-Im headquarters in Washington, DC.
“Bladex provides its services through a small team with a large reach,” said Bladex chief executive officer Jaime Rivera. “We have a network of 150 bank clients in Latin America and the Caribbean, which gives us access to a lot of opportunities to support medium-term sales by US exporters.”
Bladex is a multinational bank with a mission to promote the economic development of countries in Latin America and the Caribbean, primarily through trade finance. Bladex’s shareholders include the central banks and other designated financial institutions of 23 member countries in the region, as well as commercial banks and private investors.