FOR IMMEDIATE RELEASE September 10, 2019
Linda Formella (202) 565-3204
Washington, D.C. – The Federal Register posted two notices for public review and comment regarding the economic impact procedures of the Export-Import Bank of the United States (EXIM) and the agency’s proposed guidelines for determining “additionality,” the reasons why a transaction would not go forward without EXIM’s support.
“I want to assure the U.S. Congress and the American people that the Export-Import Bank of the United States is fully committed to transparency and reforms as we fulfill our congressionally mandated mission of supporting U.S. jobs by facilitating U.S. exports. In my testimony before the U.S. Senate Banking Committee, I committed to reviewing the procedures and guidelines used by our EXIM staff and board of directors to determine the reasons that EXIM’s support is needed and the potential domestic economic impact of our financings,” said EXIM President and Chairman Kimberly A. Reed.
“As EXIM focuses on key reforms to transform our agency, protect the taxpayer, and further President Trump’s economic and national security agenda, we want to hear from interested parties and experts as part of a transparent process. Over the past four months since our board was confirmed by the U.S. Senate, we have been doing bipartisan outreach on EXIM’s programs with Congress and stakeholders, and we will engage with our EXIM 2019 Advisory Committee, chaired by the Honorable Stevan Pearce, and Sub-Saharan Africa Advisory Committee, chaired by Daniel Runde, at our first 2019 meetings of the advisory committees tomorrow,” Reed said.
EXIM is in the process of reviewing its current economic impact procedures and methodology through which staff analyze and assess the potential impacts of EXIM support of pending applications on the relevant domestic industries in the United States. EXIM’s current economic impact procedures are posted online. Interested parties may submit comments to EXIM through firstname.lastname@example.org or by mail to Office of Policy Analysis and International Relations, 811 Vermont Avenue, NW, Room 1257, Washington, D.C. 20571, within 30 days of the notice appearing in the Federal Register on September 9.
The agency is also seeking comments on its proposed guidelines for determining additionality in medium- and long-term transactions. EXIM’s proposed additionality guidelines can be viewed online. Interested parties may submit comments through email@example.com or by mail to Office of Policy Analysis and International Relations, 811 Vermont Avenue, NW, Room 1257, Washington, D.C. 20571, within 30 days of the notice appearing in the Federal Register on September 9.
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, 90 percent of the total number of the agency’s authorizations has directly supported small businesses.