The U.S. Export-Import Bank has authorized a record $1.7 billion in financing to support U.S. exports to Sub-Saharan Africa during the past 10 months.
Ex-Im Bank Chairman and President Fred P. Hochberg made the announcement at the U.S.-Africa Leaders Summit this week in Washington. The summit includes about 50 heads of state, ministers and business leaders from across the African continent.
The bank also announced that it will pledge $3 billion in financing to support U.S exports to Sub-Saharan Africa over the next two fiscal years.
In addition, Ex-Im Bank signed a memorandum of understanding with Angola Tuesday to boost collaboration on the financing of American exports to Angola.
In the MoU, Ex-Im Bank and Angola's Ministry of Finance agreed to exchange information on trade and business opportunities to enable the procurement of U.S. goods and services by both state-owned and private-sector enterprises in Angola, particularly in the areas of energy, infrastructure, railways and roads, mining, telecommunications, agriculture, and environment, including water and sanitation projects.