From Yahoo Finance · · 1m 20s
U.S. DFC Approves $500 Million Trade Facility
U.S. DFC approves $500 million trade financing to boost exports to emerging markets.
In brief
U.S. DFC approves $500 million trade financing to boost exports to emerging markets. U.S. International Development Finance Corp approved $500 million in guarantees to support U.S. exports to emerging markets, potentially unlocking $20 billion in exports and 10,000 jobs. Originally reported by Yahoo Finance.
U.S. DFC approves $500 million trade facility
The U.S. International Development Finance Corp approved a $500 million trade financing facility to help U.S. companies access emerging markets in South America, Southeast Asia and Africa.
Partnership with World Bank's IFC
The facility partners with the World Bank's International Finance Corp and its Global Trade Finance Program to provide counter-guarantees for trade financing.
Goal: Expand U.S. exports
The goal is to expand U.S. exports by building new relationships and strengthening existing ties among local companies, foreign banks, U.S. exporters and confirming banks.
Targeted markets and industries
The program targets South America, Southeast Asia and Africa, supporting agriculture, primary metals, industrial products, and consumer goods like computers and electrical products.
Potential economic impact
The facility could unlock up to $20 billion in U.S. exports and support up to 10,000 U.S. jobs in states including Iowa, Ohio, Colorado, Kansas, Pennsylvania and Michigan.
Support for small businesses
The guarantees will help small banks and financial institutions in emerging markets finance U.S. goods purchases without defaulting on payments.
The bottom line
U.S. International Development Finance Corp approved $500 million in guarantees to support U.S. exports to emerging markets, potentially unlocking $20 billion in exports and 10,000 jobs.
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