The Export-Import Bank of the United States has launched operations in Myanmar to support U.S. trade with the country and help integrate it into the world economy, a bank official said on Thursday.

“Effective today, the Export-Import Bank of the United States is open for business in Burma, for sovereign lending to facilitate U.S. export credit sales on terms up to five years in repayment,” the official told reporters in a conference call.

“This decision was reached … after a diligent review of Burma’s creditworthiness and will improve trade flows between our two countries and help integrate Burma into the global economy,” the official said of the Southeast Asian country, which is officially known as Myanmar.

“This decision will open an important new market for American exports and support American jobs,” the official said. (Reporting by David Brunnstrom; Editing by Stephen Powell)