WASHINGTON -- The Export-Import Bank has formed a project finance division to help U.S. exporters tap the growing international market for infrastructure projects.
The bank said that two private-sector experts will head the unit - Glen T. Matsumoto, former vice president and finance director of Mission Energy Co. in Irvine, Calif., and Dianne S. Rudo, former director of project finance at Taylor-DeJongh Inc., a Washington-based consulting firm.
The government-sponsored Export-Import Bank is promoting greater involvement by U.S. banks and corporations in project finance as part of a broader administration push to promote exports. Infrastructure projects are tricky for banks because repayment is based on cash flow rather than sovereign guarantees.
