Trinidad and Tobago signs US$500 million MOU with US Export-Import Bank

• The Export-Import Bank of the United States (EXIM) has formalized a significant partnership with the Republic of Trinidad and Tobago, marking a milestone in US-Caribbean relations. EXIM President and Chair Reta Jo Lewis recently met with Trinidad and Tobago’s Prime Minister Keith Rowley and Minister of Finance and the Economy Colm Imbert to sign a Memorandum of Understanding (MOU) valued at US$500Mn.
• The agreement aims to develop opportunities and support financing across several key sectors including maritime domain awareness, cybersecurity, renewable energy, and water sanitation. 
• In addition to the MOU, EXIM has extended a $150Mn Letter of Interest to Trinidad and Tobago’s Ministry of Finance. A Letter of Interest (LI) is an indication of Ex-Im Bank's willingness to consider financing for a given export transaction. This $250Mn funding is designated for acquiring maritime vessels and aircraft to enhance the nation’s maritime domain awareness, search and rescue capabilities, and border security. 
• The funds should facilitate access to US-manufactured goods and services, along with technical support, for various national needs including security, renewable energy, climate change mitigation, and small business support. 
• The MOU and LI reflect a significant boost in confidence from the US towards Trinidad and Tobago’s government and its people.

(Sources: Caribbean National Weekly and EXIM)