Addresses importance of EXIM bank financing for infrastructure spending in developing countries like Zambia and Cameroon
PARSIPPANY, N.J. - Friday, August 7th 2015 [ME NewsWire]
(BUSINESS WIRE)-- Paul Sullivan, Vice President of International Business Development at Acrow Bridge, a leading international bridge engineering and supply company, was one of the business leaders invited to the White House recently to brief President Obama on the vital role that loan guarantees from the Export-Import Bank of the United States (EXIM) play for American companies like Acrow.
In addressing the importance of EXIM financing for exports by middle market companies, including Acrow, President Obama said: “I’ve just had the opportunity to hear from businesses all across the country to talk about the importance of reauthorizing the Export-Import Bank. Just understand, what the Export-Import Bank does – and has been doing for 81 years – is to help U.S. companies with U.S. employees sell their products overseas. It helps a small coffee company or quiche company but also large manufacturers of trains or bridges and infrastructure.”
President Obama’s comments came just before his visit to Africa, where he attended events in Kenya and Ethiopia, including the U.S.-sponsored Global Entrepreneurship Summit (GES 2015) in Nairobi.
At the White House event, Sullivan spoke from his own experience as an international business development professional for a company that supplies countries, including more than 20 in Africa, with pre-fabricated modular steel bridges that are fabricated in the United States with American technology and materials all the while sustaining and creating good jobs in Pennsylvania and in many other states where Acrow’s vendors are located. Sullivan noted that Acrow’s decades-long commitment to bridge infrastructure development in Africa includes current commitments for more than 200 Acrow bridges in Zambia and Cameroon.
“It was an honor and privilege to brief President Obama on Acrow’s work across the African continent,” said Sullivan. “Acrow’s financed comprehensive bridge development programs offer compelling solutions to African leaders and policy-makers, with a special focus on addressing the twin deficits of funding and infrastructure that limit sustainable economic development in the region. With the support of EXIM Bank of the United States, Acrow arranges the financing for these important bridge projects, which also include a robust local skills capacity building component with the extensive training of African engineers and technicians in the assembly and installation of these critical infrastructure assets. Acrow Bridge is proud to share President Obama’s passionate commitment to Africa’s development by connecting people through its bridge projects to schools, hospitals and enhanced economic opportunity.”
About Acrow Bridge
Acrow Bridge has been serving the transportation and construction industries for more than 60 years with a full line of modular steel bridging solutions for vehicle, rail, vessel, military and pedestrian use. Acrow’s extensive international presence includes its leadership in the development and implementation of bridge infrastructure projects in over 80 countries, covering Africa, Asia, the Americas, Europe and the Middle East. For more information, please visit www.acrow.com.
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