Export-Import Bank
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Export-Import Bank of the United States (EXIM) is the official export credit agency of the United States, providing financing solutions like loans, guarantees, and insurance to support U.S. exporters in international markets, particularly when private sector financing is not available.
Mission
The mission of the Export-Import Bank is to support American jobs by facilitating the export of U.S. goods and services to international markets. It works to level the playing field for U.S. companies by offering financing tools that help them compete against foreign companies often backed by their own government export credit agencies.
Parent organization
EXIM operates independently and does not have a parent organization.
Legislation
EXIM was established by Executive Order 6581 signed by President Franklin D. Roosevelt in 1934, with its mandate later formalized by the Export-Import Bank Act of 1945.
Partners
- Various U.S. businesses seeking to export products. - International buyers of U.S. goods and services. - Financial institutions that work with EXIM to facilitate export financing.
Number of employees
EXIM Bank employs approximately 400 staff members.
Organization structure
- Office of the President and Chair oversees strategic direction.
- Board of Directors includes the President & Chair and four other members appointed by the President of the U.S., which approve transactions and set policy.
- Credit and Risk Management evaluates the risks associated with transactions.
List of programs
- Export Credit Insurance
- Working Capital Guarantee Program
- Loan Guarantee Program
Last total enacted budget
EXIM is self-sustaining through the fees and interest it charges; thus, it does not have a traditional budget allocated by Congress but rather operates on its income.
Leader
Reta Jo Lewis serves as the President & Chair of the Export-Import Bank.
Services provided
EXIM provides a range of financing tools including direct loans to foreign buyers, guarantees of loans made by private lenders to foreign buyers, and export credit insurance to protect U.S. exporters against nonpayment by foreign buyers. These services are particularly targeted at supporting small businesses, but are also available for larger firms.
Regulations overseen
EXIM does not oversee regulations but must operate within the legal framework set by Congress, including adherence to the Export-Import Bank Act and other related laws and international agreements like those from the OECD on export credits.
Headquarters address
811 Vermont Avenue NW, Washington, DC 20005
Website
Wikipedia article
wikipedia:Export-Import Bank of the United States
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