Ex-Im Bank Assists Clients who Suffered Hurricane Damage

The Export-Import (Ex-Im) Bank is reporting a positive development in the bank’s offer to grant a period of loan repayment moratorium to its clients who suffered cash flow disruptions as a result of Hurricane Ivan, and for whom debt servicing would have been a problem.
The bank has granted loan repayment moratorium to 13 of its clients for periods ranging between 3 and 9 months, covering a loan portfolio of some $38.0 million.
Making the announcement to JIS News today (February 10), the bank’s Managing Director, Pamella McLean said that as was expected, the overwhelming majority of the beneficiaries came from the agricultural, agro processing and aqua-culture sectors. “This came as no surprise to the Bank and it in fact confirmed earlier reports that these areas of activities were the worst affected by the hurricane,” Mrs. McLean said.
“The bank is happy that it was able to help and also pleased to report that in cases where loan repayments should have already recommenced, this has in fact been happening,” she added.
According to Mrs. McLean, the clients were living up to the expectations of the bank.