The Export-Import Bank of the United States (Ex-Im Bank) will offer expanded financing opportunities for US exports to the public sector in Pakistan, US Secretary of State Colin Powell announced yesterday.
Now Ex-Im Bank financing will be available to support Pakistan's purchases of US equipment and services in cases where repayment of the financing is assured by the sovereign guarantee of the Government of Pakistan.
"This is a sign of the increasing importance of business in the US-Pakistan relationship," Secretary Powell said.
The expanded coverage, including short-, medium- and long-term financing, is a result of improving economic and political fundamentals and hence an improvement in Pakistan's risk profile.
