US Ex-Im Bank opens for business in Burma/Myanmar
The US government has taken another important step in helping to reintegrate Myanmar (referred to as Burma for official purposes) into the global economy. On 6 February 2014, the Export-Import Bank of the US (Ex-Im Bank) announced the opening of financial support for qualified short-term and medium-term US export sales to Myanmar. Over the past 18 months, the US has substantially removed sanctions on business with Myanmar and has expanded economic and trade support on a step-by-step basis in response to political and economic reforms. The recent announcement by Ex-Im Bank will play an important role in opening a new market for US exports.
Businesses looking to engage in the Myanmar market can now seek export-credit insurance, loan guarantees and direct loans (depending on credit) from Ex-Im Bank. Also available are Ex-Im Bank’s working capital guarantees, which can help US exporters or their suppliers obtain funds to produce or buy goods or services for export to Myanmar…
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