Exim Bank to honor loan commitments<\/p>\n
JP\/bay<\/p>\n
JAKARTA (JP): The chairman of the U.S. Export-Import Bank said
\nyesterday that the bank would support all $4.4 billion worth of
\nloans in Indonesia now under consideration.<\/p>\n
\"Our current exposure is about $3.8 billion and we have in the
\npipeline $4.4 billion. We intend to honor and support all our
\ncurrent activities here and to look for opportunities to be
\nsupported in the future,\" James Harmon (photo above) told a news
\nconference.<\/p>\n
Harmon said 1998 would be a difficult year but he expected
\ngrowth to return.<\/p>\n
\"We have not yet suffered any losses in Indonesia and our
\nlosses in all of Asia have been no different than in previous
\nperiods of time,\" he was quoted by Reuters as saying.<\/p>\n
He added it was too early to count any losses from the current
\nturmoil.<\/p>\n
Indonesia is going through its worst financial crisis in
\ndecades.<\/p>\n
Harmon, who met Indonesian President Soeharto on Thursday,
\nsaid now was a good time for the bank to invest as there would be
\nless competition for financing and this would mean the quality of
\nthe projects available would be better.<\/p>\n
\"I would hope we would increase our share of the market as a
\nresult of the conditions in Asia,\" he said.
\nExim bank is an independent government agency that finances U.S.
\nexports for agricultural, industrial and infrastructural
\ndevelopment.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/exim-bank-to-honor-loan-commitments-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}