Eca Framework Agreement

EXIM Bank currently has a bilateral agreement with ASHR`A (Israel), Atradius (Netherlands), BPIFrance (successor to Coface) (France), CESCE (Spain), EDC (Canada), EFIC (Australia), EGAP (Czech Republic), UKEF (formerly EC GD) (Great Britain), EKF (Denmark), Euler Hermes (Germany), JBIC (Japan), NEXI (Japan), SACE (Italy), SERV (Switzerland) and Turk Eximbank (only Turkey-EXIM) and is in talks with other ECAs, to sign additional framework agreements. EXIM Bank will examine co-financing operations without a formal bilateral agreement on a case-by-case basis. Indeed, EXIM Bank has concluded a series of unique co-financing agreements with GIEK (Norway), H-EXIM (Hungary) and ONDD (Belgium). EXIM Bank reserves the right to decide on a case-by-case basis whether operations are structured as co-financing operations. The main objective of the agreement is to create a framework for the orderly use of officially supported export credits, promoting a level playing field in order to promote competition between exporters on the basis of the quality and prices of exported goods and services and not on the basis of the most favourable officially supported export credits. The Export Credit Agencies (ECAs) of the United States and Ghana have signed a $300 million agreement to help Ghanaian SMEs procure U.S. goods and services. “One-stop-shop” agreements also reduce the number of parties with whom the buyer/borrower will do business and thus result in a credit agreement, fees and a number of payment procedures and receivables. As part of the agreement, the two ECAs will create an online structure for Gexim to serve as a borrower and primary source of repayment for US Exim. If the successor ECA gives its consent, the Lead-ECA will cover the entire agreement on its usual terms under a credit agreement and will request a financial commitment from the successor ECA. While the ECA is prohibited from supporting operations in the buyer`s country, no “one-stop-shop” co-financing agreement can be offered. Each EURH reserves the right to approve or reject a support request based on its own assessment of the transaction.

Jeffrey Gerrish, President of US Exim and Chairman-in-Office, said the framework agreement “confirms US Exim`s commitment to President Donald Trump`s Prosper Africa Initiative” and shows our sincere interest in partnering with Gexim to create economic opportunities and jobs in both Ghana and the United States. The deal with Ghana is US Exim`s second in a month with an African trading partner under Prosper Africa, after signing a similar deal with Angola. According to US Exim, this framework is an opportunity to support Ghana`s ambitions for industrial development through the creation of small industries in each of the country`s administrative regions. The agreement aims to improve financing opportunities for SMEs in Ghana “that are participating in Ghana`s transition from a commodity-based to a value-rich economy,” he said. .

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