Sponsors: The Connecticut Department of Economic and Community Development (DECD), HSBC Equator (USA) Incorporated, First International Bank

Location: The Hartford Club, 46 Prospect Street, Hartford, Time: 11:45am - 2:00pm, Fee: Panel & luncheon $30. Speech only $10.

Reservations are required! All media is invited to attend.

On Monday, October 30, 2000, the Department of Economic and Community Development will present a dynamic exchange of ideas and perspectives on accessing credit internationally. Ms. Jackie Clegg, Vice Chairman of the Ex-Im Bank of the U.S. and Mr. John Richter, Regional Director-Africa will discuss the bank’s international programs and how to use them to facilitate exports.

Over the past five years, the Ex-Im Bank has supported 11,000 transactions with $65.5 billion worth of financing nationwide. In Connecticut, the Ex-Im Bank has assisted 117 companies with $1.1 billion worth of exports in the same time frame. Some 56 percent of these transactions involved small businesses.

As part of its International Plan, DECD has developed and implemented market development programs in significant emerging markets such as Argentina, Brazil, China, Israel, Mexico, Turkey and sub-Saharan Africa.

"Access to financing is a critical aspect of working in emerging markets, and Ex-Im has been very proactive in reaching out to Connecticut’s small- to medium-sized companies," said DECD

Commissioner James Abromaitis. "This is important since approximately 95 percent of our exporters have fewer than 500 employees. This luncheon is an opportunity for companies to meet Ex-Im's principal decision makers and become better informed about how to use the bank’s programs to expand their business base."

"Ex-Im Bank has made increasing business in Africa a top priority. Through our outreach efforts, we have worked hard to build the momentum for doing business in sub-Saharan Africa. We want to find ways to make Ex-Im Bank even more responsive so that small and medium-sized exporters can be competitive in this important emerging market," said Jackie Clegg, vice chair, Export-Import Bank of the United States.

Mr. Franklin Kennedy, President of HSBC Equator Bank, said, "Funding continues to be a formidable barrier for African buyers of American goods and services. The good news is that Ex-Im has tackled this problem head-on by promoting its export credit programs in Africa and by partnering with key banks. As one of these banks, HSBC Equator is pleased to join forces with Ex-Im. Together, we believe we can deliver financial solutions that will help American exporters compete for a larger share of Africa's growing market."

"Since 1998, First International Bank has financed more than 30 transactions in Africa through Ex-Im Bank, more than any bank in the world," noted First International Bank’s Chairman and CEO, Brett N. Silvers. "Every one of those transactions involved a small- or medium-sized U.S. exporter at the other end," he added.

Silvers noted that First International’s experiences highlight the strategic importance of Ex-Im Bank’s initiatives in the emerging economies of Africa. "First International Bank is proud to contribute to the effort to build relationships between small and midsize businesses in the U.S. and Africa – efforts that are vital to our success in increasing U.S. exports," he stated.

For Further DECD Information Contact:
Jim Watson, (860) 270-8182
FAX: (860) 270-8188
E-Mail: james.w.watson@po.state.ct.us