Home Finance America EXIM bank plans COVID-19 relief measures, Opportunities for healthcare engagement in Africa

America EXIM bank plans COVID-19 relief measures, Opportunities for healthcare engagement in Africa

by Business News Report

United States Export Import Bank officials say they are looking at relief measures and opportunities for healthcare engagement in Africa. A virtual report meeting of the bank executive sighted by Businessnewsreport.com.ng  said “the Sub-Sahara Africa Advisory Committee (SAAC) of the Export-Import Bank of the United States (EXIM) met in a public virtual meeting, which included U.S. government interagency colleagues in attendance. This was the Committee’s fourth meeting over the past year. SAAC Chair Daniel Runde convened the meeting to discuss how EXIM can be more effective in the healthcare space with respect to the issues facing Africa due to COVID-19. 

“EXIM Chief Banking Officer Stephen Renna discussed swift actions taken by EXIM to assist U.S. companies and workers as part of the COVID-19 economic recovery, including waivers, deadline extensions, streamlined processing, and flexibility for its working capital loan guarantee and export credit insurance programs.  EXIM Counselor to the Chairman and Senior Vice President for the Program on China and Transformational Exports David Trulio reviewed the implementation of the agency’s new “Program on China and Transformational Exports” During the meeting, EXIM Director of Africa Rick Angiuoni updated the SAAC on the impact of COVID-19 in sub-Saharan Africa and EXIM’s outreach in the region, including over 40 high-level engagements and over 100 staff-level calls. Angiuoni also updated the committee on potential opportunities for EXIM deals in sub-Saharan Africa. Andy Whitman, Senior Vice President for Government Affairs and Marketing Development at Varian Medical Systems, and Luis Arguello, CEO at DemeTech, underscored the opportunities in Africa and said EXIM should continue to be highly engaged in supporting U.S. exporters”.

It further said “Sub-Saharan Africa has ten of the fastest-growing cities in the world. As such, Africa must increase its infrastructure, including hospital facilities.  EXIM is poised to play an integral role in this growth and will help bring about opportunities in Africa and generate jobs in the United States and in sub-Saharan Africa,” said EXIM President and Chairman Kimberly A. Reed. “I thank our outstanding Committee members for the work they have done over the last year to promote EXIM’s engagement in sub-Saharan Africa. COVID-19 has had a drastic effect on Africa’s economy, and ensuring that future investment in the region is fair, reciprocal, and in the interest of the United States is crucial,” said Chair Runde. “EXIM’s COVID-19 relief measures and Program on China and Transformational Exports will ensure that U.S. businesses like DemeTech and Varian Medical Systems can compete on a level playing field as they export their products to the region.”

The 11-member SAAC advises EXIM on the development of policies and programs to boost U.S. exports to sub-Saharan Africa and support American jobs related to those exports. EXIM also engages on sub-Saharan Africa issues through the Prosper Africa Initiative, a whole-of-government economic effort to substantially increase two-way trade and investment between the United States and Africa. Launched in 2018, Prosper Africa brings together the resources of more than 15 U.S. government agencies, including EXIM, to unlock opportunities to do business in Africa and advance American and African prosperity and security, support jobs, and demonstrate the superior value of transparent markets and private enterprise for driving growth.

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