FOR IMMEDIATE RELEASE March 7, 2010
Phil Cogan or Marianna Ohe (202-565-3200)
WASHINGTON, D.C. - President Barack Obama will address the 2010 Annual Conference of the Export-Import Bank of the United States (Ex-Im Bank) March 11 in Washington, D.C. as part of his initiative to boost U.S. exports and U.S. jobs. .
We are honored that President Obama will be speaking to the U.S. export community, said Ex-Im Bank Chairman and President Fred P. Hochberg. Building upon the President's announcement of the National Exports Initiative in his State of the Union address, we are committed to creating 2 million new U.S. jobs by doubling exports over the next five years. Strengthening U.S. competitiveness is a critical part of his economic plan. The President's presence not only benefits all participants in the conference, but also raises awareness of the critical importance of exports.
The theme of the two-day conference (March 11-12) is Powering Jobs, Sales and Profits through Exports.
The president will address over 1,000 U.S. exporters from companies large and small, domestic and international lenders, brokers, and foreign buyers and government representatives at the Omni Shoreham Hotel.
Ex-Im Bank, an independent, self-sustaining federal government agency, exists to fill gaps in export financing, to strengthen U.S. export competitiveness and create and maintain U.S. jobs. For over 76 years, the Bank has provided financing to help small and medium-sized U.S. businesses, export credit insurance to protect against non-payment by foreign buyers; and loan guarantees and direct loans to assist foreign buyers of U.S. goods and services.
In fiscal 2009, overall Ex-Im Bank financings came to $21 billion, while authorizations for small business exporters totaled $4.36 billion, both historic highs. In the first four months of fiscal 2010, the Bank authorized a record $10.9 billion in loans, guarantees, and insurance - more than three times the amount authorized in the same period of fiscal 2009.
For more information on Ex-Im Bank, visit www.exim.gov.