US Exim approves first domestic manufacturing deal

(Global Trade Review, London, 5 September 2023) The Export-Import Bank of the United States (US Exim) has approved the first transaction under its domestic manufacturing programme, a direct loan of US$4.7mn to a Pennsylvania-based technology firm. The transaction comes more than a year after US Exim formally launched its Make More in America Initiative (MMIA), which in the time since has made available the agency’s range of medium and long-term loans for the establishment or expansion of US-based manufacturing facilities with an “export nexus”. US Exim had been recommended to explore the possibility of creating such a product a year earlier, following a 100-day White House review of supply chains for critical products, such as minerals and semiconductors.