The Export-Import Bank of the United States (Ex-Im Bank) has adopted the Equator Principles, a globally recognized benchmark for financial institutions to determine, assess and manage the social and environmental risks of international project financing.
The Equator Principles are a voluntary set of standards that were developed by private-sector banks, including Citigroup, in consultation with the World Bank Group's International Finance Corp., project sponsors, engineers and nongovernmental organizations.
In adopting the Equator Principles, Ex-Im Bank joins more than 70 financial institutions and three other export-credit agencies: Export Development Canada, Denmark's Eksport Kredit Fonden and Australia's Export Finance and Investment Corp.
Ex-Im Bank's adoption of the Equator Principles will align its environmental requirements for project-finance transactions with those of commercial banks that apply these principles. This alignment will facilitate the bank's application and review process by helping project sponsors and others involved to understand and implement the environmental and social requirements for Ex-Im Bank-supported projects.
SOURCE: Export-Import Bank of the United States
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