FLASH: US Exim readies for US$2bn domestic financing boom

(Global Trade Review, 31 January 2024) The Export-Import Bank of the United States (US Exim) is anticipating a “significant” rise in domestic financing activity in the coming year as it works to rejig its offering and grow investment in key sectors such as semiconductors, critical minerals and renewable energy.  US Exim first launched the Make More in America (MMIA) programme nearly two years ago, following a 100-day review of critical supply chains.  Deals to-date for some $350m are dwarfed by the financing extended by rival export credit agencies under their equivalent programmes, such as the UK’s, which since releasing its export development guarantee in 2020 has rolled out billions of dollars in support to large corporates such as Ford and Jaguar Land Rover.  “The MMIA initiative is going to be a boon for American manufacturers and American manufacturing. We have US$2bn in the pipeline,” said US Exim’s first vice-president and vice-chair of its board, Judith Pryor, while noting deals are split across a range of industries, such as energy efficiency, battery storage, satellites and critical minerals.