Export-Import Bank Chairman Statement on Nomination of Penny Pritzker for Commerce Secretary and Michael Froman for U.S. Trade Representative
Washington, D.C. - Export-Import Bank Chairman and President Fred P. Hochberg issued the following statement today on the Nomination of Penny Pritzker for Commerce Secretary and Michael Froman for U.S. Trade Representative.
“I congratulate both Penny Pritzker and Michael Froman for their nominations today. Penny is a dedicated public servant, a savvy businesswoman, a seasoned manager and a friend. As a member of the President's Council on Jobs and Competitiveness, she has offered sound economic advice to the President, and has a global perspective that has served her well throughout her distinguished career. I applaud her nomination, look forward to her swift confirmation, and to working with her to help create American jobs.”
“I have had the pleasure of working with Michael Froman in executing the President's trade and export policies, and have seen firsthand that he is uniquely qualified to be our country's next Trade Representative. Mike is not only a colleague, he is also a friend, and it has been an honor working with him to create jobs through exports. I have no doubt that he will demonstrate the same hard work, dedication, and commitment that he has shown throughout his entire career.”
About US Ex-Im Bank:
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years (from Fiscal Year 2008), Ex-Im Bank has earned for U.S. taxpayers nearly $1.6 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.
Ex-Im Bank approved nearly $35.8 billion in total authorizations in FY 2012 - an all-time Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $50 billion in U.S. export sales and approximately 255,000 American jobs. For more information, visit www.exim.gov.