Ex-Im Bank Considering Financing Exports to Canada
The Export-Import Bank has received an application for a $74 million long-term guarantee to support the export of approximately $87 million worth of mining equipment, locomotives and railcars to Canada. These U.S. exports will enable the Canadian mining company to increase production by about five million metric tons of iron ore per year during the 8.5 year repayment term of the guarantee. According to the Bank, available information indicates that all of the additional production will be sold in China. Interested parties may submit comments on this transaction by Jan. 6, 2012.