EXIM Bank Quarter in Review - Winter 2016


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EXPORT-IMPORT BANK OF THE UNITED STATES QUARTER IN REVIEW VOLUME 6
photo of Don Nelson, Chief Executive of ProGauge Technologies in Bakersfield, Ca. and quote: The reauthorization is very important to our ability to export and create jobs. I hope we’re past the political games

 

// 1.14.2016

Message from
the Chairman

Happy New Year!

I’m proud to be able to start this year off with some great news:  As many of you are aware, overwhelming bipartisan majorities in both chambers of Congress demonstrated their support for EXIM Bank’s mission in early December by voting to reauthorize the Bank through the end of Fiscal Year 2019. President Obama then signed the legislation into law on Dec. 4th.

As a result, at EXIM we are redoubling our efforts in the New Year to support American businesses as they work to expand their exports abroad and create more jobs here at home.  For example, since December 7th we’ve already approved 424 transactions, totaling approximately $1.7 billion, with most of these transactions being renewals and first time issuance of export credit insurance policies, to ensure that exporters - many of which are small businesses - have the financial security they need to ship their products overseas.

We are reducing risk and unleashing opportunity.  And we’re excited to do more. 

As President Obama said during the State of the Union address on Tuesday evening, “Our unique strengths as a nation – our optimism and work ethic, our spirit of discovery and innovation, our diversity and commitment to the rule of law – these things give us everything we need to ensure prosperity and security for generations to come.” 

Our reauthorization couldn’t have happened at a more exciting time for America’s exporters

These are also the same traits that make made-in-America products so attractive to the 95 percent of consumers that live outside of our borders. 

There are a lot of American businesses that are utilizing EXIM products to expand their exports and reach new customers, but we also know that there are even more small businesses that could grow if they knew about the EXIM products that are available to them. 

That’s what this year is about – continuing to support existing customers, and expanding our outreach to new customers who can’t find the financing they need in the private sector.

2016 Annual Conference

The New Year also means another EXIM Bank Annual Conference. 

This year it will take place on April 7th through the 8th and will once again be at the Omni Shoreham Hotel in Washington, DC.  The conference presents a unique opportunity for companies from around the world to meet U.S. exporters, and for U.S. exporters to meet potential buyers from all over the globe. 

Attendees include more than 1,100 exporters and representatives of financial institutions, foreign trade partners, and government officials.  EXIM staff will also be onsite and will provide detailed information about our export credit products and programs.

You can register online here.  Don’t delay. It will surely be a sellout again.

FY 2015 Annual Report

A New Year also means we’re releasing our FY2015 Annual Report on all the work that EXIM was able to accomplish last year.  You can find out more by reading my blog post, but I’m particularly proud that even in a shortened year, we were still able to support over 109,000 American jobs in FY2015.  You can also read the entire report on our website.

Board of Directors

Looking forward, while we have received a long-term authorization through 2019, there are some challenges that still remain. 

We currently only have two members on our board of directors and therefore the board lacks a quorum.  As a result, EXIM cannot approve transactions that exceed $10 million, the very transactions that support hundreds of thousands of American jobs through small businesses, and the supply chains of larger businesses across the country. 

President Obama has nominated J. Mark McWatters to serve as a member of EXIM Bank’s board, and the White House is pushing to get this done.  We trust the U.S. Senate will move this nomination along in the New Year so EXIM can fully meet our mission of leveling the playing field for American businesses and their workers. 

Road Ahead

While there are certainly challenges out there for American exporters, there are still a number of opportunities on the horizon as well. With renewed Trade Promotion Authority and the possibility of the Trans-Pacific Partnership (a 12-country free trade agreement), the United States can significantly expand exports of ‘Made in America’ goods and services. And EXIM Bank is here to ensure that U.S. exporters of every size can realize those opportunities.

That’s our mission; that’s our lifeblood. The aim of our 400-plus dedicated employees is to enable our exporters to access new markets and grow American jobs. 

We certainly are well-positioned for an exciting 2016!

Best,
Fred

P.S. Don’t forget to register for the annual conference.

 


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Export-Import Bank of the United States
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