Ex-Im Bank Chairman Fred Hochberg Announces Plans in Support of South African Infrastructure Development

By Export-import Bank Of The United States, PRNE
Tuesday, November 9, 2010

JOHANNESBURG, November 10, 2010 - Export-Import Bank of the United States (Ex-Im Bank) Chairman and
President Fred P. Hochberg is in South Africa to announce first steps in the
approval of financing for U.S. exports to key South African projects,

    -- Ex-Im Bank's first-stage approval of support for the sale of
       locomotives to Transnet, a large South African rail, port and pipeline
       company majority-owned by the government
    -- The Bank's initial carbon review of Eskom's Kusile coal-fired power
       plant. Eskom is South Africa's national electric utility.

"South Africa is a dynamic economy with a growing appetite for
infrastructure development," Hochberg said during his Nov. 9-11 trade mission
to South Africa. "That's why it has been designated by Ex-Im as one of nine
countries where we aim to increase transactions. American companies and
competitive Ex-Im Bank financing are available to meet South Africa's
infrastructure needs and to support other purchases by small and mid-size

In addition to meeting with South African government and business
leaders, Hochberg is signing a Memorandum of Understanding with the Export
Credit Insurance Corporation (ECIC), South Africa's official export credit
agency. Under the agreement, the two agencies will exchange information on
trade and business prospects in order to identify opportunities for
cooperation, including co-financing opportunities in sub-Saharan Africa.

Hochberg announced that, after an initial review of the Kusile power
plant project under Ex-Im Bank's enhanced due diligence process for high
carbon intensity facilities, the Bank's board of directors has decided to
proceed with a full financial, technical and environmental review of the

After the full review, the transaction to finance the sale of engineering
services to Eskom by Black & Veatch of Overland Park, Kansas, will return to
the Board for final action. The Kusile project has environmentally beneficial
features including water conservation technology, a highly efficient boiler,
pollution abatement technology, and carbon-capture-ready status.

"By working together, we can help South Africa ramp up its energy
production and infrastructure needs to meet the increased demand of its
citizens," Hochberg said. "We have the know-how to help them in migrating
that energy generation toward cleaner, more renewable sectors going forward."

Hochberg also announced Ex-Im Bank's first-stage approval of financing
for the export of General Electric locomotives to Transnet, pending
Congressional notification of the Bank's intent to approve the transaction.

In addition, Ex-Im Bank recently gave final approval for $7 million in
financing to support the sale of five new Caterpillar off-highway trucks and
one new tractor to Eqstra Holdings Ltd., a diversified leasing, industrial,
construction and mining equipment importer and distributor. Eqstra subsidiary
MCC Contracts (Pty) Ltd. will use the equipment.

Hochberg delivered remarks today at a breakfast meeting with the American
Chamber of Commerce. During his stay he is meeting with a wide range of
private and public sector leaders including representatives of South Africa's
Department of Public Enterprises, commercial banks, and private companies
including Eqstra, Transnet and Comair.

Ex-Im Bank, an independent, self-sustaining federal agency, helps create
and maintain U.S. jobs by filling gaps in export financing and strengthening
U.S. export competitiveness. Overall during the fiscal year, Ex-Im Bank
authorized a record high of approximately $24.5 billion in loans,
guarantees and insurance, including more than $5 billion in authorizations
for small businesses. More information about Ex-Im Bank is available at

Phil Cogan of the Export-Import Bank of the United States, +01-202-745-1676 (mobile in S. Africa week of November 8-12), +01-202-565-3203 (office)

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