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 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.

“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.

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