Margaret MacLean, MPS International President, and David Druetzler, MPS International Project Director, attended the US Export-Import Bank (EXIM Bank) Annual Conference held in Washington, D.C. in April. With the changing of the guard in the White House in 2017, new leaders have taken the reins at US EXIM Bank with the aim to continue to promote US exports. During March, there was concern among US EXIM customers that this institution could be dissolved. By early April, it was apparent that US EXIM would remain intact to continue to serve American exporters.
Margaret MacLean was invited to speak on a panel, as part of a general session, entitled “Export Opportunities in Sub-Saharan Africa,” on April 6, to share MPS’ experience as an American exporter. The panel was composed of a cross-section of American exporters including Acrow Bridgen (civil engineering); MacLean Power Systems; Weldy-Lamont (engineering, procurement and construction contractor); and several other esteemed organizations. Panelists fielded questions regarding overseas sales opportunities and how US EXIM has provided a stable backstop to give American exporters a chance to compete in overseas markets.
MPS uses EXIM Bank’s single buyer insurance in East Africa to insure against payment default. For instance, US EXIM has underwritten MPS to insure that the bank will back-up receivables should our customers default on payment. During her time on stage, Margaret MacLean highlighted this financial tool noting that having this policy has allowed MPS to enter markets with better terms for our potential customers. Weldy-Lamont’s delegate and an MPS customer, Pat Hennelly, expressed praise towards US EXIM Bank for financing a $350 million rural electrification project in Ghana, where MPS was a major supplier.
The annual conference infused the customer base of US EXIM with a confidence that the current administration will continue to support US exports through the bank. As MPS continues to compete in the global marketplace, we will continue to rely on the financial instruments US EXIM offers to put MPS in a position of strength when offering solutions to customers.
The panelists, including Margaret MacLean (center).