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President's FY 2006 Fully Funds the Export-Import Bank

FOR IMMEDIATE RELEASE February 6, 2005

Media Contact Name/Phone: 

Andrew Yarrow (202) 565-3200

WASHINGTON, DC: President Bush's fiscal year 2006 federal budget request, which was released today, fully supports the Export-Import Bank of the United States (Ex-Im Bank). The FY 2006 request provides $186.5 million to fund the Bank's program budget and $73.2 million to fund its administrative budget.

This budget request will enable Ex-Im Bank to continue to help U.S. exporters, small and large, compete in the toughest global markets, Ex-Im Bank Chairman Philip Merrill said. This is a triple win for America - for U.S. businesses to make overseas sales, for U.S. workers whose jobs are sustained by export production, and for U.S. taxpayers whose investment is repaid in increased U.S. prosperity.

When Ex-Im Bank was overwhelmingly reauthorized by Congress in 2002, President Bush said: The Export-Import Bank helps advance U.S. trade policy, facilitate the sale of U.S. goods and services abroad, and create jobs here at home.

Ex-Im Bank, the official export credit agency of the United States, helps finance U.S. exports by providing loan guarantees, export credit insurance and direct loans. In fiscal year 2004, Ex-Im Bank assisted in financing $17.8 billion of U.S. exports to markets around the world.

For more information, visit www.exim.gov. To receive news and information directly from Ex-Im Bank via e-mail, sign up at https://public.govdelivery.com/accounts/USEXIM/subscriber/new.