Export-Import Bank to Halt Export Financing for Certain Medical Items Due to COVID-19 Pandemic

The Export-Import Bank of the United States approved a resolution to temporarily cease financing for exports of personal protective equipment, EXIM said in an April 14 press release. Financing will no longer be available through Sept. 30 for certain “critically needed” medical supplies and equipment, such as masks, gloves, face shields and other items identified by the Federal Emergency Management Agency last week (see 2004080018). EXIM said it will contact insured exporters of medical equipment and make sure their existing agreements only cover exports that “reflect the new EXIM policy,” the bank said. Financing for medical equipment represents “a relatively small portion of EXIM’s overall financing portfolio,” at less than 1%, the bank said.