The US Export-Import Bank (Ex-Im Bank), the country’s official export credit agency (ECA), is increasing support to the Gulf and has recently made two multi-billion dollar commitments to the region. In April it signed a memorandum of understanding (MOU) to provide up to $5bn to the Dubai Economic Council (DEC).

This follows the approval in September 2012 of a $4.975bn direct loan to the Saudi Aramco/Dow Chemical joint venture Sadara project being built in Saudi Arabia’s Jubail Industrial City II (MEES, 28 September 2012) – the largest loan in Ex-Im Bank’s history. (CONTINUED - 591 WORDS)