ExIm Steel Supply Chain 90% Guarantee Renewal

[ABS News Services/04.09.2024]

The US Export-Import Bank Board of Directors has approved the renewal of a 90 percent guarantee of a $95 million purchase facility under its Supply Chain Finance Guarantee Program.

The facility will be utilized by US companies in the supply chain of the US Steel Corporation and is expected to support $1.78 billion in export sales of steel and iron ore to Canada, Mexico and Saudi Arabia.

This transaction is estimated to support 400 jobs across Pennsylvania, Kentucky, Illinois, Indiana and Texas.