Export Finance Australia and Export-Import Bank of the United States single point of entry “open for business”
Export Finance Australia (EFA) and Export-Import Bank of the United States (U.S. EXIM) have further enhanced their strong bilateral relationship today by officially announcing the single point of entry (SPE) for critical minerals, previously announced on 25 October 2023 by President Biden and Prime Minister Albanese, is “open for business”.
Media release
29 August 2024
Export Finance Australia (EFA) and Export-Import Bank of the United States (U.S. EXIM) have further enhanced their strong bilateral relationship today by officially announcing the single point of entry (SPE) for critical minerals, previously announced on 25 October 2023 by President Biden and Prime Minister Albanese, is “open for business”.
Managing Director & CEO of Export Finance Australia, John Hopkins, and President and Chair of the U.S. EXIM Board of Directors, Reta Jo Lewis, met in Sydney to make this important announcement and discuss other opportunities to improve bilateral cooperation.
“EXIM is here in Australia to build upon and continue our strong U.S. – Australian partnership in security and economic prosperity. The single point of entry means that Australian and US critical minerals businesses may now approach U.S. EXIM or EFA and receive streamlined access to both agencies’ financing support,” said Chair Lewis.
“This support can include joint feedback on proposals, joint Letters of Support or Interest and clear advice on how to engage with EFA and U.S. EXIM,” Mr Hopkins said.
In addition to the SPE, Mr Hopkins and Chair Lewis discussed further opportunities to enhance EFA and U.S. EXIM’s close working relationship, in line with the broader close Australian and United States bilateral relationship.
This includes shared engagement through the Quad Export Credit Agency Memorandum of Cooperation, opportunities to work together in Southeast Asia and areas of cooperation under the EFA and U.S. EXIM reinsurance agreement.
Media contacts:
Simon Fisher, Director, International and Commonwealth Engagement, 0421 056 872, Simon.Fisher@exportfinance.gov.au
About Export Finance Australia (EFA):
EFA is Australia’s export credit agency. EFA provides commercial finance for export trade and overseas infrastructure development. From small and medium-sized enterprises to large corporates, foreign Governments and infrastructure projects, EFA helps Australian businesses take on the world. In doing so, EFA's finance supports Australia’s economic security and regional resilience.
EFA administers the Australian Government’s National Interest Account, which currently includes the Southeast Asia Investment Financing Facility, Critical Minerals Facility, the Defence Export Facility and lending for the Australian Infrastructure Financing Facility for the Pacific. EFA also provides support to other Commonwealth entities, including the National Reconstruction Fund Corporation, Housing Australia and the Northern Australia Infrastructure Facility.
About Export-Import Bank of the United States (U.S. EXIM):
U.S. EXIM is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, U.S. EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, U.S. EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated about $9 billion for the U.S. Treasury for repayment of overall U.S. debt. Learn more at www.exim.gov.
