Export-Import Bank of the United States (EXIM) President and Chair Reta Jo Lewis today signed two significant memoranda of understanding (MOUs) with the governments of Barbados and Saint Kitts and Nevis, securing a total of up to $800 million in potential financing to support financing in cybersecurity, renewable energy, and critical areas for the region’s long-term growth and sustainability.
“These agreements are a symbol of the U.S.’s deepening partnership with Barbados and Saint Kitts and Nevis – and the entire Eastern Caribbean region,” said Chair Lewis. “The agreements send a signal to the market that EXIM is eager to finance meaningful projects that support new business opportunities in key sectors across the United States and the Eastern Caribbean. This is what strategic partnerships between the U.S. and our key allies look like.”
The MOU between EXIM and the government of Barbados, in the amount of up to $500 million in financing, was signed by Chair Lewis and Prime Minister Mia Mottley in the Office of the Prime Minister with Ambassador Roger Nyhus. Areas for cooperation and procurement included renewable energy, cybersecurity, water and sanitation and maritime domain awareness.
“The United States Embassy in Bridgetown is proud to have played a leadership role in making these agreements possible,” said U.S. Ambassador to Barbados, the Eastern Caribbean and the OECS, Roger Nyhus. “EXIM and Chair Lewis are incredible partners who care about this important part of the world. The MOUs signed today are tangible examples of the commitment made by the United States to economic development, security, and a shared future with the countries of the Eastern Caribbean.”
The MOU between Saint Kitts and Nevis, providing access to up to $300 million in financing was signed by Chair Lewis and Prime Minister Terrance Michael Drew at the U.S. Embassy in Bridgetown, hosted by Ambassador Nyhus. Areas for cooperation and procurement included renewable energy, cybersecurity, critical minerals and infrastructure.
Since 1991, EXIM has supported $23 million in transactions in Barbados and Saint Kitts and Nevis. These new agreements will further strengthen the region’s long-term growth and sustainability, while supporting American jobs.
During her visit to Barbados, Chair Lewis held a business roundtable discussion with government officials, private sector leaders, trade associations and regional partners to explore new opportunities for U.S. businesses and exporters, with the goal of deepening economic ties between the United States and the Caribbean and creating American jobs. Tomorrow, Chair Lewis is scheduled to meet with representatives from the Barbadian Defence Forces and the Regional Security System, both important regional security partners.
The visit to Barbados from Chair Lewis, the first black woman to lead EXIM, came during the 100th anniversary birthday celebrations of Rep. Shirley Chisholm, the first black member of Congress and a Barbadian American, and days before Barbados Independence Day.
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.
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