Armenian National Committee of America
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PRESS RELEASE
March 30, 2005
Contact: Elizabeth S. Chouldjian
Tel: (202) 775-1918

EX-IM EXPANDS SUPPORT FOR ARMENIA

— ANCA Welcomes Move to Broaden U.S.-Armenia Commercial
Opportunities

WASHINGTON, DC – In a move welcomed by Armenian Americans and the
growing number of U.S. firms doing business with Armenia, the
Export-Import Bank of the United States (Ex-Im Bank) announced last
week the expansion of its loan guarantee, export credit insurance,
and direct loan programs in Armenia.

“We welcome this contribution by EXIM to the expansion of U.S.-
Armenia commercial relations,” said ANCA Executive Director Aram
Hamparian. “We appreciate the role of the Bank in fostering an
environment of greater bilateral economic cooperation and look
forward to the new job-creation opportunities that this expansion
will make possible.”

The policy change to its “cover policy arrangements” includes new
support for short and medium term programs in Armenian public
sector. These changes, effective as of today, were based on risk
rating changes made by the U.S. Interagency Country Risk Assessment
System. Short term deals typically last up to one year, while
medium term transactions last between one and seven years.

Ex-Im Bank, the official export credit agency of the United States,
is in its 71st year of helping finance the sale of U.S. exports,
primarily to emerging markets throughout the world, by providing
loan guarantees, export credit insurance and direct loans. In
fiscal year 2004, Ex-Im Bank authorized financing to support $17.8
billion of U.S. exports worldwide. For further information on Ex-
Im Bank programs in Armenia, visit Ex-Im Bank’s web site at

From: Emil Lazarian | Ararat NewsPress