The Export-Import Bank of the United States ("Ex-Im Bank") is a U.S. government agency established in 1934 whose sole mission is to support U.S. exports. Our mission is not to make a profit but to finance exports. Ex-Im Bank since 1994 has a top priority to increase its support for renewable energy exports.

Ex-Im Bank has been at the forefront of financing international renewable energy projects. The Bank more than doubled its support for renewable energy in FY2011 to $721 million, after tripling its authorizations for financing renewable energy in FY2010. The Bank’s role is critically important given the ongoing challenges in the global financial markets, and the shortage of long-term, cost-effective financing for renewable energy projects. The Bank has neither a minimum nor a maximum project size, and its financing is usually the most cost-effective source of financing for international projects.

Ex-Im Bank is one of the largest lenders for solar projects in India, and the first international financial institution to finance a project under India’s National Solar Mission. In Honduras, Ex-Im Bank provided a $159 million 18-year Direct Loan to finance Gamesa wind turbines for the 102-MW Cerro de Hula project, the largest wind power project in Central America. In Canada, Ex-Im Bank provided an 18-year Guarantee in Canadian dollars that supported a bond issue to finance $455 million in projects that used First Solar modules. The Bank has also financed numerous small-scale and distributed energy projects.

Ex-Im Bank can provide short-, medium-, and long-term financing for renewable energy projects that utilize U.S.-made technologies and services. Ex-Im Bank can enable U.S. companies to offer open account financing for both goods and services up to 360 days - this is much less complicated and lower cost method than having the buyer pay by letter of credit or cash in advance.

Ex-Im Bank's Medium- and Long-Term Direct Loan and Loan Guarantee Program can support repayment terms of up to 18 years for renewable energy systems for transactions over $350,000.

Ex-Im Bank financing is usually the most cost-effective source of financing for international customers, and end-user project developers, to purchase U.S.-made systems. Currently Ex-Im Bank's Direct Loan for a 18-year fixed interest rate loan in U.S. dollars has an interest rate of 3.35% (this rate is reset each month). Please note Ex-Im Bank can also provide Loan Guarantees in Euros, and other currencies. With the Loan repayment 100% guaranteed by the U.S. Government (via Ex-Im Bank) the interest rates are lower and the repayment terms longer than would otherwise be the case. Currently we are very active providing Euro Loan Guarantees for solar projects in EU countries.

Ex-Im Bank's Working Capital Guarantee can also be an invaluable resource for U.S. exporters seeking to finance the manufacture of goods for export sales. This program enables commercial lenders to make working capital loans to U.S. exporters for various export-related activities by substantially reducing the risks associated with these loans. The exporter may use the program to purchase raw materials and finished goods for export, to pay for materials, labor and overhead to produce goods for export, and to cover stand-by letters of credit, and bid and performance bonds.