Export-Import Bank of the United States Signs Co-Financing Agreement with Korea Trade Insurance Corporation During United Nations General Assembly Meetings

Agreement Opens New Opportunities on Critical Minerals, Climate Projects

FOR IMMEDIATE RELEASESeptember 22, 2022

NEW YORK - Export-Import Bank of the United States (EXIM) President and Chair Reta Jo Lewis today signed an historic co-financing agreement with the Korea Trade Insurance Corporation (K-SURE) to create a one-stop shop facility that will provide joint support for U.S. and Korean export projects in new and strategic industries, including critical minerals.

"I am thrilled to sign this agreement with K-SURE during the United Nations General Assembly," said Chair Lewis. "This agreement will open new exporting opportunities for U.S. and Korean companies, enhancing the competitiveness of both of our agencies. The time is now to create the collaborations and finance the projects that will help the economies of likeminded nations emerge from the recent global crises stronger, more resilient, and more prosperous."

The signing took place at the Consulate General of the Republic of Korea Building in New York City with Chair Lewis and K-SURE President and Chair Mr. Inho Lee.

Under the agreement, EXIM and K-SURE have committed to expanding the scope of financing for bilateral projects, specifically around critical minerals projects, which are central to global infrastructure development and the energy transition.

In addition to the focus on critical minerals support, the agreement outlines the ways EXIM and K-SURE will cooperate in areas of common interest, including climate-friendly projects, sub-Saharan Africa, transformational exports, and global supply chains.

ABOUT EXIM:

The Export-Import Bank of the United States (EXIM) is the nation's official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.