Business
US EXIM reopens short-term trade financing facilities for Zambia
The United States Export-Import Bank (US EXIM) has reopened credit and insurance facilities for short-term trade transactions involving Zambia’s private sector, the Zambian Embassy in Washington said. The development follows the amendment of the bank’s Country Limitation Schedule (CLS), allowing US EXIM to consider financing…
Picture: Zambia Monitor
The United States Export-Import Bank (US EXIM) has reopened credit and insurance facilities for short-term trade transactions involving Zambia’s private sector, the Zambian Embassy in Washington said.
The development follows the amendment of the bank’s Country Limitation Schedule (CLS), allowing US EXIM to consider financing and insurance applications for eligible short-term commercial transactions involving Zambian businesses.
Zambia’s Ambassador to the United States, Chibamba Kanyama, said the long-awaited update came shortly after the US Congress passed and President Donald Trump assented to the African Growth and Opportunity Act (AGOA) Extension Act, extending Zambia’s duty-free market access to the United States through December 2028.
Kanyama said the two developments represented a vote of confidence in Zambia’s economic reforms and structural stability.
“This is a powerful vote of confidence from Washington,” he said.
Lakatips
Advertise on Lakatips
Reach readers following the national conversation
Display, sponsored placements and briefing slots — across politics, business and sport.
“By re-opening short-term commercial financing lines and guaranteeing tariff-free market entry via AGOA, the US is moving beyond the optics of development aid into a framework of deep, production-driven commercial partnership.”
According to the Zambian Embassy in Washington, local businesses seeking to import specialised equipment, heavy agricultural machinery, medical technology and raw industrial materials from the United States can now access competitive payment terms, with American exporters able to secure US federal trade insurance for eligible contracts.
The embassy said Zambia’s inclusion under the Short-Term Africa Initiative would also allow eligible bilateral trade applications to be fast-tracked under regional risk parameters aimed at expanding trade corridors in sub-Saharan Africa.
It said applications would initially be assessed on a case-by-case basis rather than through blanket automatic credit approvals, in line with standard practices for newly reopened financing markets.
Kanyama urged Zambian manufacturers to take advantage of the renewed access to US EXIM financing to strengthen local production and increase exports to the US market.
The AGOA extension provides Zambia with duty-free access to the US market for eligible products through December 2028, creating an opportunity for local manufacturers and exporters to expand their presence in the American market.
WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.
Source: Zambia Monitor — Read more
More to read
All Business →
Manchester United’s winless run stretches to six after Leeds draw
Manchester United’s winless run extended to six matches in all competitions after Leeds United held Michael Carrick’s side to a draw at Elland Road. The result dealt another blow to Carrick, whose team arrived at the home of their long-standing rivals after a turbulent week…
ZCSA moves to expand consumer protection with 42 new proposed standards
The Zambia Compulsory Standards Agency (ZCSA) says it is consulting stakeholders on 42 proposed compulsory standards covering products ranging from food and chemicals to liquefied petroleum gas (LPG) and sanitary pads as part of efforts to strengthen consumer and environmental protection. ZCSA Public Relations Officer…
SADC urges investment in disaster resilience and financing mechanisms
The Southern African Development Community (SADC) has called for increased investment in long-term disaster resilience and sustainable financing mechanisms to minimise losses, protect livelihoods and help countries recover more quickly from disasters. SADC Deputy Executive Secretary for Corporate Affairs, Dr Judith Kateera, said floods, droughts…