Promotion of renewable energy sources by EXIM Bank

Founded in 1934 under the patronage of Franklin D. Roosevelt, EXIM Bank (Export-Import Bank) has witnessed turbulent world politics and the changing contours of financial markets for more than 90 years. As the official credit agency of the United States, it facilitates exports to 177 countries.

From the mechanized era of the 1930s to today’s era of artificial intelligence and quantum systems, the bank seeks to understand the nuances of business models that consistently combine with breakthrough innovation, scalability, and mass market reach. It does this by “keeping your finger on the pulse of the US export community”How Judith Pyror, First Vice President and Vice Chairwoman, EXIM Bank puts it down.

“We provide trade finance. As exporters from different sectors come to us, we learn and grow. In recent years, there has been a huge focus on various aspects of renewable energy, including efficient storage.”

In Angola, the bank financed a 500-megawatt, $1 billion solar power project, helping the government diversify its energy sources.

New change of space

Geospatial information and satellite data are now an integral part of many sectors, as well as part of everyday digital services and solutions. This has led to a change of attitude among leading financial institutions, which were previously reluctant, if not reluctant.

“We have not traditionally been into new businesses and technologies, but with New Space there has been a paradigm shift.”

Combining a strong entrepreneurial spirit with a social purpose leads to tangible benefits at all levels of society. However, there is a need for a seamless market connection and risk assessment. This can be a bit tricky with new technological solutions.

“We need to meet with exporters to learn more about their potential customers and establish issues such as reasonable assurance of repayment.”

Transition and cooperation

Given the direct causal link between carbon dioxide emissions from the combustion of fossil fuels and anthropogenic climate change, which is reaching alarming levels, as evidenced by record-breaking hot summers, a transition to cleaner energy sources that produce lower emissions is essential.

“I think there is nothing more important for the planet than the energy transition, and we must do everything we can to achieve it as quickly as possible.”

“Ultimately, to achieve this, collaboration is very important, especially with like-minded democracies. I look forward to working with colleagues from across the Indian subcontinent.”