Export-Import Bank of the United States Board of Directors Supports Renewal of Supply Chain Finance Guarantee for U.S. Steel Corporation
Washington, DC – Today, the Board of Directors at the Export-Import Bank of the United States (EXIM) approved the renewal of a 90 percent guarantee of a $95 million purchase facility under its Supply Chain Finance Guarantee Program. The facility will be utilized by American companies in the supply chain of the U.S. Steel Corporation and is expected to support $1.78 billion in export sales of steel and iron ore to Canada, Mexico and Saudi Arabia.
“The approval of today’s transaction is a prime illustration of EXIM’s ongoing commitment to reinforcing the American supply chain,” said EXIM President and Chair Reta Jo Lewis. “With this renewal EXIM will continue to support Biden-Harris Administration priorities to improve our nation’s economic security while fulfilling our mission to support American jobs.”
This transaction is estimated to support 400 jobs across Pennsylvania, Kentucky, Illinois, Indiana and Texas.
About EXIM:
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at www.exim.gov.