After backing a loan in May to a Cambodian firm for the first time, the Export-Import Bank of the United States (EXIM) said it is looking forward to continue facilitating purchases of equipment and business deals between US and Cambodian companies.
Speaking at a luncheon yesterday organised by the American Chamber of Commerce and the US Embassy, Douglas Frye, senior loan officer at EXIM, said the bank is “open for business in Cambodia”.
“EXIM Bank is interested in working with Cambodia’s banking sector and bankable corporates to facilitate the purchases of quality US equipment and services for projects in Cambodia’s agricultural, renewable energy, and health care sectors,” Mr Frye said.
He said the bank aims to be flexible in structuring the financing they will offer Cambodian companies.
EXIM is a government agency that provides loan, guarantee, and insurance products to aid the export of American goods.
Since its founding in 1934, EXIM has supported more than $600 billion in US exports in key industrial sectors in the US, including aviation, manufacturing equipment, heavy equipment and oil and gas exploration and development.
In May, local rice miller Amru Rice became the recipient of the first loan to Cambodia’s private sector guaranteed by EXIM.
“It was our first transaction, we don’t know much about the bank sector here,” Mr Frye said, adding that the bank is now looking forward to cooperate with local banks.
