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                     Office of the Press Secretary
                          (Hyderabad, India)

For Immediate Release March 24, 2000


New Financing to Expand India-U.S. Trade

President Clinton will today announce over $2 billion in U.S. government financial support for American exports to India. The U.S. Export-Import Bank will provide major new financing for small business exports to India, guarantees of rupee-denominated loans to Indian importers, and financing for the purchase of 10 Boeing passenger aircraft by Jet Airways of India. In addition, the President announced that over $4 billion in business agreements between U.S. and Indian companies have been signed and witnessed by U.S. Secretary of Commerce William M. Daley during his visit this week.

Ex-Im Bank to Provide $1 Billion in Financing for Small- and Medium-sized Enterprises

The President also said that the U.S. Ex-Im Bank will guarantee up to $1 billion in loans, denominated in rupees, India's currency. He has also made a preliminary commitment for $358 million in financing for the purchase of 10 Boeing B737-800 aircraft to be operated by Jet Airways of India.

Ex-Im Bank to Guarantee Up to $1 Billion in Rupees Denomination Trade Financing

Ex-Im Bank Gives Preliminary Commitment for $358 Million in Financing for Purchase of 10 Boeing Jets:

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