EX-IM BANK PUSHES BACK

(h/t Jocelyn Fong at Media Matters)

The Export-Import Bank approved a $2 Billion preliminary commitment to Brazil's nation oil company, Petrobas BACK IN APRIL 2009. The wingers are claiming that this only helps Brazil. This is false. The Bank only makes deals to help American companies:

Charge: America is exporting jobs to Brazil as a result of the loans.

Fact: Only American made goods and services qualify for Ex-Im Bank loans or guarantees.

Ex-Im only supports U.S. jobs by providing financing to ensure that American goods and services can compete on a level playing field against foreign competition.

According to the Bank's 4/7/2011 press release, this will create or maintain 15,000 U.S. jobs over 4 years:

The Board of Directors of the Export-Import Bank of the United States today voted to grant preliminary approval for a $2.84 billion direct loan/loan guarantee to Colombia's Refinería de Cartagena S.A. (Reficar). The financing, when finally approved, will support the purchases of equipment and services from over 150 large and small U.S. engineering/design, equipment supply, contracting and process license firms, including Chicago Bridge & Iron, Foster Wheeler, Exxon/Mobil and UOP.

This is part of a $5.18 billion refinery and upgrade project in Cartagena, Colombia supplying petroleum products to the domestic and export markets. About four percent of the transaction will directly benefit small businesses. The transaction will help create or sustain over 15,000 American jobs for a total of four years.