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Ex-Im Bank Approves $500 Million to Finance Exports for Use in Mongolian Mine

Monday, May 20, 2013
Sandler, Travis & Rosenberg Trade Report

The Export-Import Bank of the United States has voted to authorize an approximately $500 million direct loan to finance exports of U.S.-manufactured mining equipment and services to Mongolia. These exports, which will include heavy mining trucks, shovels and drills, will support the continued development of a Mongolian mine producing copper, gold and silver that upon completion will generate approximately 30% of the country’s gross domestic product. The Bank estimates that this project will also support approximately 2,000 jobs across the U.S.

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