Ex-Im Bank Guarantees Novel Loan

The Export-Import Bank of the United States has guaranteed a housing-related loan in Qatar that is believed to be the first of its kind.The guaranteed loan by Buffalo, N.Y.-based M&T Bank will support construction of a 120-villa compound for the expatriate community working for various Western oil and gas development companies with operations in Doha, Qatar. Coral Gables, Fla.-based Impex Associates Inc. and U.S. suppliers from Piscataway, N.J., to Vancouver, Wash., will export equipment and services to build the Qatar housing community. "This transaction is the first 100% private-sector project that Ex-Im Bank has financed in Qatar outside of the oil and gas industry," said Ex-Im Bank chairman and acting president James H. Lambright. The bank can be found online at http://www.exim.gov.