Ex-Im, Dubai Economic Council Sign MOU
The Export-Import Bank and the Dubai Economic Council signed a $5 billion memorandum of understanding, the bank said April 10. The agreement says the Council and Ex-Im “anticipate that as much as $5 billion in export-credit support may be approved…
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to finance [the Council’s] members’ and customs’ procurement of U.S. goods and services for a variety of Dubai infrastructure projects.” Potential areas of cooperation include airport infrastructure, port-development projects and power generation, according to Ex-Im. The agreement “helps ensure that American exporters are not disadvantaged by foreign companies relying upon state-driven capital,” said Bank Chairman Fred Hochberg.