The Export-Import Bank of the United States (EXIM) is ready and willing to support trade between businesses in The Bahamas and US with loans, loan guarantees an insurance products, EXIM's President and Chair Reta Jo Lewis told members of the media on Friday, adding that the bank currently has a $10 million exposure with The Bahamas.

Lewis said the more than $56 million the bank has financed in Caribbean Community (CARICOM) nations is not enough. She and a 30-member delegation met with CARICOM leaders last week during the 44th Regular Meeting of CARICOM Heads of Government to begin to flesh out how the bank can support more economic growth in the region.

"The thing that really brought us here this week is the continued support and commitment President [Joe] Biden and VP [Vice President Kamala] Harris has with the Caribbean countries and of course here in The Bahamas," said Lewis.

"We are here to show EXIM bank's commitment to want to work much closer in the region.

"We all know that at a time when we have issues around global supply chain shocks, this has made it even more important for us to work with trusted partners in the CARICOM countries and The Bahamas in particular.

"All of them have been great partners with EXIM. Have we done enough on the island itself? No. Have we done enough in CARICOM? We have currently a $10 million exposure right here in The Bahamas, and then throughout the region, Caribbean and Latin America, we have had over $5.5 billion worth of financing that has been provided.

"In CARICOM itself, it has been more than $56 million. Is that enough? No, it's not."

Lewis said she and her delegation attended the CARICOM heads of government meeting to talk directly to the leaders of Caribbean countries, to let them know what financing is available, for which sectors and for what kinds of businesses.

Lewis explained that the bank supports all sizes of businesses and does not discriminate. She added that the bank is interested in supporting more sectors, especially those related to climate change and renewable energy.

"We are looking to continue to not only fulfill our mission, but we want to promote economic growth and development by providing financing and other resources to support US exports and local businesses here in The Bahamas and throughout CARICOM, and then throughout the region," Lewis said.

"We want to expand our reach in the Caribbean and in The Bahamas. We want businesses to know EXIM stands ready with the financing tools we have to help create opportunities for them and for their workers. We are in the region and we are continuing to build upon a strong foundation, to help advance our shared economic goals and strengthen our own and each others' supply chain," she added.

The post EXIM bank ready to support more US exports into region appeared first on The Nassau Guardian.

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