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Trump’s Memorandum On COVID-19 Assistance To Italy Feature At Virtual Discussion

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…As EXIM Chairman, Others Meet

By Emmanuel Oluebube

Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed June 17 held a virtual discussion with the US Chamber of Commerce and the American Chamber of Commerce in Italy (AmCham), outlining COVID- 19 relief measures for Italian companies that buy goods and services from the United States.

The Chairman discussed EXIM’s COVID-19 relief measures, the economic reopening of both countries, and President Trump’s Memorandum on Providing COVID-19 Assistance to the Italian Republic, which directs EXIM to use available authorities to support the recovery of the Italian economy. She also discussed opportunities for collaboration between EXIM and Servizi Assicurativi del Commercio Estero (SACE), Italy’s export credit agency.

Chairman Reed underscored how EXIM financing tools support transactions that benefit America’s exporters and workers while also helping Italy, one of the United States’ closest and oldest allies. The audience of more than 40 participants included businesses, lenders, and government representatives from the United States and Italy. Also participating in the event were:

  • Senior Vice President for European Affairs at the U.S. Chamber of Commerce, Marjorie A. Chorlins.
  • President of the American Chamber of Commerce in Italy, Luca Arnaboldi.
  • Managing Director of the American Chamber of Commerce in Italy, Simone Crolla.
  • EXIM Chief Banking Officer, Steve Renna.
  • EXIM Senior Vice President for the Program on China and Transformational Exports, David Trulio.
  • EXIM Vice President of International Relations, Isabel Galdiz.

“As Americans and Italians recover from the deadly effects of COVID-19, the strong economic and cultural ties between our two nations are more important and meaningful than ever,” said Chairman Reed. “While the US government’s first responsibility is to the American people, we are a nation of compassion, and we want to help as much as we can. The US Chamber of Commerce and the American Chamber of Commerce in Italy are critical in finding the opportunities where EXIM assistance is needed to address today’s unprecedented challenges.”

The event followed meetings Chairman Reed recently held via teleconference with US Ambassador to Italy Lewis M. Eisenberg on June 10 and with Ambassador of Italy to the United States Armando Varricchio on June 8.

Chairman Reed also discussed EXIM’s new Programme on China and Transformational Exports, established in EXIM’s historic reauthorization, which is intended to help level the playing field for US exporters and workers by directly neutralizing export subsidies for competing goods and services offered by the People’s Republic of China. In May, EXIM launched its “Strengthening American Competitiveness” initiative, beginning with a series of teleconferences with American businesses and stakeholders. A full schedule of upcoming teleconferences and recordings of previous events can be found here.

“The commercial relationship between the United States and Europe is the largest and most important in the world,” said Chorlins. “Rejuvenating our economies in the wake of the pandemic and economic crisis will jumpstart global growth and promote an inclusive recovery. We look forward to collaborating with our partners at the US Export-Import Bank, and our global network of American Chambers of Commerce, to expand trading opportunities with Italy and other partners in Europe.”

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