WASHINGTON, D.C. — A US $43 million loan guarantee from the Export-Import Bank of the United States (Ex-Im Bank) is enabling a Moscow hospital to develop a rehabilitation center with state-of-the-art medical equipment exported by U.S. companies. Ellerbe Becket, Minneapolis, the fourth largest architectural, engineering and construction firm in the world, will provide design and construction management services for the expansion project. More than 24 suppliers from 13 states will help complete this export order.

The Rehabilitation Center is the third construction phase for the hospital. Ex-Im Bank also financed a US $24 million guarantee for an earlier stage of the hospital renovation. “Ex-Im Bank is pleased to participate in this important project and provide financing to improve the Russian health care system,” said Ex-Im Bank Vice Chair Jackie M. Clegg.

Owned by the City of Moscow, Hospital No. 31’s total capacity will be expanded from 550 existing beds to 900 beds by the year 2000, which will make it a leading provider of health care in the Moscow region. “The new facilities will offer treatment and therapy in rehabilitation medicine with an extensive capacity in balneotherapy, or curing by waters. The Rehabilitation Center is located over deep thermal wells which will provide mineralized waters for a complete range of hydrotherapy programs,” said Frank Nemeth, design principal for Ellerbe Becket.

Ex-Im Bank is guaranteeing US $43 million to Vnesheconombank (VEB), Moscow, which carries the full faith and credit of the Russian Federation. Ex-Im Bank currently has nearly US $900 million in exposure with VEB and has had an excellent repayment experience. In fiscal year 1997, Ex-Im Bank financed US $474.3 million in loan guarantees to Russia.

Ex-Im Bank is an independent federal agency that promotes and assists in financing U.S. goods and services to markets around the world. In fiscal year 1997, Ex-Im Bank supported US $15 billion of U.S. exports.

An innovator since its founding in 1909, Ellerbe Becket provides integrated architecture, engineering and construction services from 11 office locations worldwide.