The board of directors of the US’s Export-Import Bank has approved a US$3.4 billion financial package to help US exports in a number of key industries, including solar. The Bank forecasts that this funding will support more than 20,000 jobs across the country.
Around US$19 million of this package is going to the Indian PV project developer, Tatith Solar, which will use the direct loan to buy SolarWorld Industries America panels for its 5MW project in Gujarat. The transaction is the sixth Ex-Im Bank-backed PV installation in India in the current fiscal year.
“This has been a historic year for Ex-Im Bank in terms of total authorizations and the number of American jobs supported by Ex-Im financing,” said the bank's chairman and president Fred Hochberg. “The Bank has responded to a record level of financing requests this year to provide export financing on behalf of US companies expanding foreign sales and sustaining and creating jobs. We have been able to do this without cost to the US taxpayer.”