ISLAMABAD - Chairman and President of the Export-Import Bank of the United States (EXIM) Fred P Hochberg announced on Tuesday that the bank would now offer long-term financing for public sector projects in Pakistan.
Chairman Hochberg and American Ambassador David Hale met with Finance Minister Ishaq Dar and other senior officials to discuss trade and investment opportunities in Pakistan.
"EXIM is here to compete for Pakistani business, and is ready to partner with Pakistan to reach its development goals," Hochberg said, adding, "The country's growing economy, expanding middle class, and access to South and Central Asia all create tremendous opportunities for investment, and we want to be part of that."
The EXIM chairman apprised about the bank’s history in Pakistan, particularly its partnership in the energy, railway and aviation sectors.
He referred to the strong economic ties existing between Pakistan and the United States, and expressed the hope that new EXIM financing opportunities would lead to increased cooperation.
"The United States is one of Pakistan's largest trade partners as well as one of its largest sources of investment," the chairman said, and added, "I look forward to building on this already strong and productive relationship." During his three-day visit to Pakistan, Hochberg also met with a range of private sector executives.
EXIM is the official export credit agency of the United States. It is an independent, self-sustaining agency with a history of more than 80 years in global markets.
It lends money to foreign public and private sector entities to help them purchase US goods and services.