Dhaka: The US EXIM Bank has expressed its readiness to help the US companies remain competitive in bidding on renewable energy projects as Bangladesh is seriously looking for alternative energy sources to meet spiralling demand, reports UNB.

‘As Bangladesh looks to invest in major renewable energy projects, we at EXIM Bank will be there to make US companies competitive in bidding on these projects,’ says visiting Chairman of the bank Fred P. Hochberg in an article circulated by the US Embassy in Dhaka.

Hochberg, now in Bangladesh on a two-day visit, in his article on Bangladesh visit titled ‘The Bangladesh Opportunity’ says it is their job to reduce the risks of entering foreign markets so US business can partner with Bangladeshi customers to unleash big opportunities.

The government in Bangladesh has announced serious renewable energy plans, focusing their efforts on solar and wind energy technologies.

The EXIM Bank Chairman is visiting Bangladesh as part of his first international trip in 2016.

Explaining why he has chosen Bangladesh, Hochberg said Bangladesh’s growing economy and rising consumer demand make it a place where US businesses want to compete.

‘US companies are especially interested in helping Bangladesh meet its ambitious infrastructure investment goals with sustainable ‘Made-in-the-USA’ quality goods and services’, he says.

The Bank Chairman said EXIM can continue providing US businesses with the backing they need to compete effectively for the great opportunities Bangladesh has to offer.

Acknowledging competition as tough one, Hochberg said competitive financing can be a catalyst for getting Bangladesh the high-quality American goods and services that can propel the country’s economy forward.

‘We want US businesses to be competitive in this promising market,’ he says.

The chairman says they are proud of aircraft, machinery, satellites, and power equipment that US companies produce, and those are ‘the safest, cleanest, and most durable in the world’.

During his visit, he will meet with economic, government, and business leaders to assure them that the Export-Import Bank of the United States is here to assist American firms compete for business in Bangladesh.

In 2011 and 2013, he says, the EXIM Bank of the United States financed more than $500 million to help the cash-troubled Biman Bangladesh Airlines acquire four Boeing 777-300ER long-range passenger aircraft.

‘Bangladesh’s economic expansion means greater demand for long-range flights that are safe, cheap, and fuel-efficient. Biman’s new Boeing jets will help meet that demand,’ the article reads.

Since US President Obama took office, EXIM Bank has supported over $650 million in US exports to Bangladesh-more than under any previous administration, he mentions.

‘And I see more opportunity for investment in the future. Here lies the Bangladesh opportunity: with a growing middle class, we know that Bangladeshis want to buy American-made planes, train cars, and power plants-and that US businesses want to deliver them,’ he writes.