EXIM Bank to help Americans export their “Made in the U.S.A.” goods and services to Kenya
The President and Chairman of the Export-Import Bank of the United States (EXIM) Kimberly A. Reed met with the U.S. Ambassador to Kenya Kyle McCarter to discuss how EXIM can help American businesses export their “Made in the U.S.A.” goods and services to Kenya.
During the meeting, Chairman Reed and Ambassador McCarter discussed how EXIM can advance projects in Kenya. EXIM has a congressional mandate to support projects throughout sub-Saharan Africa.
They also reviewed EXIM’s historic seven-year reauthorization, which includes a congressional directive to focus on economic and national security challenges from China.
In September, Chairman Reed participated a roundtable discussion in New York City that included representatives from Kenya, which was held in conjunction with the United Nations General Assembly (UNGA) and highlighted how EXIM support for American exports creates economic growth and prosperity in both the United States and Africa.
In June 2018, officials from the United States and Kenya signed a memorandum of understanding (MOU) aimed at expanding commercial ties between the two nations, which cites EXIM’s intention to consider requests for financing or insurance for strategic infrastructure projects, including in the transportation, manufacturing, and oil and gas sectors.
EXIM receives guidance and advice from the congressionally mandated Sub-Saharan Africa Advisory Committee regarding EXIM policies and programs designed to encourage the expansion of financing support for U.S. manufactured goods and services in sub-Saharan Africa.
EXIM also has been focused on furthering the Trump Administration’s Prosper Africa Initiative, a whole-of-government economic initiative to substantially increase two-way trade and investment between the United States and Africa.
Launched in December 2018, Prosper Africa brings together the resources of more than 15 U.S. government agencies, including EXIM, to unlock opportunities to do business in Africa and advance American and African prosperity and security, support jobs, and demonstrate the superior value of transparent markets and private enterprise for driving growth.