The export-import banks of the United States and China signed
agreements on Monday to expedite financing for transactions that
will help support US export jobs and promote China's sustainable
development.
The agreements, announced under the auspices of the US-China
Strategic Economic Dialogue, establish a strong foundation for
working together to support America's exporters and China's
development, said US Export-Import Bank Chairman and President
James H. Lambright. "The cooperation between our two banks embodies
the essence of the Strategic Economic Dialogue," he said.
Specifically, the two institutions signed a MOU on a long-term
credit agreement that will provide financing for most US export
transactions to China worth more than US$20 million. The first
transaction is already under way.
The US Export-Import Bank also expressed willingness to consider
financing the sale of heavy-duty railway maintenance equipment,
worth US$164 million, by Harsco Corporation to the Ministry of
Railways.
"We are grateful that the Export-Import Bank is willing to
consider financing, which would play a pivotal role in enabling us
to further expand Harsco's share of the China market," said Harsco
Chairman and CEO Derek C. Hathaway.
(China Daily May 23, 2007)