Reforms Allow EXIM to Keep America Strong by Empowering U.S. Businesses and Workers to Compete and Win Globally
FOR IMMEDIATE RELEASE December 11, 2019
Office of Communications (202-565-3204)
Washington, D.C. – The Export-Import Bank of the United States (EXIM) today released its revised Strategic Plan for fiscal years (FY) 2018 – 2022. This plan outlines the agency’s key goals and serves as a roadmap to fulfill its congressional mandate of supporting U.S. jobs by facilitating the export of “Made in the USA” goods and services.
The previous Strategic Plan for FY 2018 – 2022 cited a key goal of returning EXIM to full capacity. In May 2019, the U.S. Senate confirmed three members of the board of directors, returning the board to a quorum and allowing the export credit agency to resume full financing capacity.
The revised Strategic Plan highlights priorities for EXIM to ensure the agency will continue to support U.S. jobs and promote economic expansion. Key strategies outlined will level the playing field for U.S. exporters, promote small businesses, minimize risk to taxpayers, and protect national security interests. The plan also notes key reforms underway at the agency, including ensuring transparency and attracting and retaining the best talent.
“It is an honor to work with President Trump and our administration colleagues to further our nation’s economic and national security,” said EXIM President and Chairman Kimberly A. Reed. “This revised Strategic Plan not only focuses on supporting U.S. jobs – including in small businesses across America – but also ensures our agency is protecting U.S. taxpayers through good governance, increased transparency, and other reforms.”
Chairman Reed continued, “Now that EXIM’s doors are fully open again, it is important that we update our goals, strategies, and outcomes to better allow us to achieve our congressionally-mandated mission of supporting U.S. jobs by facilitating exports.”
EXIM’s revised Strategic Plan includes five goals to further its mission to “support American jobs by facilitating U.S. exports.” They are:
- Support U.S. job creation by increasing outreach and medium- and long-term support for U.S. exporters;
- Increase small and medium-size enterprise engagement with EXIM to support the growth of U.S. jobs;
- Level the playing field for U.S. exporters to protect U.S. competitiveness and enhance U.S. national security;
- Protect U.S. taxpayers through good governance and enhanced customer service; and
- Recruit and retain top talent.
Under Chairman Reed’s leadership, the revised Strategic Plan document also includes EXIM’s newly-developed “Shared Values” – Integrity, Stewardship, Accountability, Inclusivity, and Leadership.
Chairman Reed added, “It is important to simultaneously share our values that underpin the culture at EXIM with our Strategic Plan, as this provides the foundation for our ability to succeed as an organization.”
EXIM provides a portfolio of small business solutions for U.S. businesses, including export credit insurance to minimize financial risk and improve cash flow, working capital guarantees to provide credit lines for producing goods and services, and term financing to support international buyers in purchasing American capital goods and services.
The revised Strategic Plan can be found on EXIM’s website here: www.exim.gov/strategic-plan.
ABOUT EXIM BANK:
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to overseas purchasers of U.S. goods and services. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, approximately 90 percent of the total number of the agency’s authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.
For more information about EXIM, please visit www.exim.gov.