Ex-Im Bank Opens for Short-Term and Medium-Term Financing in Iraq

WASHINGTON, July 23, 2010 - Today the Export-Import Bank of the United States (Ex-Im Bank) opened in
Iraq to help finance short-term and medium-term sales of U.S. exports to
Iraqi buyers in both the public and private sectors.

"Iraq's economy is growing, offering specific opportunities for U.S.
exporters in a variety of industries. Ex-Im Bank can help by reducing the
repayment risk, especially for small businesses at this time," said Ex-Im
Bank Board Member Bijan R. Kian.

Ex-Im Bank can provide export-credit insurance, loan guarantees and
direct loans for creditworthy export sales to Iraq. Short-term insurance is
available for transactions with repayment terms of 180 days or less, and up
to 360 days for capital goods. Medium-term insurance, loan guarantees and
loans are available for transactions with terms of up to seven years.

The Bank's working capital guarantees (which help U.S. exporters or their
suppliers to obtain funds to produce or buy goods or services for export) are
available to support exports to Iraq.

The Bank can consider providing long-term support where there are
financing arrangements that eliminate or externalize country risks, such as
asset-backed financings and structures that earn revenues offshore in a third
country.

The Country Limitation Schedule at www.exim.gov provides specific
criteria for structuring transactions in both the private and public sectors.

Ex-Im Bank, an independent, self-sustaining federal-government agency,
helps create and maintain U.S. jobs by filling gaps in export financing and
strengthening U.S. export competitiveness. The Bank provides a variety of
financing mechanisms, including working capital guarantees to help small and
medium-sized U.S. businesses, export-credit insurance to protect against
nonpayment by foreign buyers, and loan guarantees and direct loans to assist
foreign buyers of U.S. goods and services.

In fiscal 2009, overall Ex-Im Bank financing totaled US$21 billion, and
authorizations supporting small-business exports reached a historic high of
US$4.4 billion, nearly 21 percent of total authorizations.

In the first nine months of fiscal 2010 (through June 2010), Ex-Im Bank
authorized US$17.4 billion in loans, guarantees and insurance - more than the
total amount authorized in fiscal 2008. For more information, see Ex-Im
Bank's Web site at www.exim.gov.

Linda Formella of Ex-Im Bank, +1-202-565-3200