READOUT: EXIM Sub-Saharan Africa Advisory Committee Meets to Discuss Strategic Minerals and Materials
WASHINGTON – The 2021-2022 Sub-Saharan Africa Advisory Committee for the Export-Import Bank of the United States (EXIM) met Thursday to discuss the ways in which EXIM can further support U.S. exports to African countries.
Convening on the one-year anniversary of President Biden’s Executive Order on America’s Supply Chains, the virtual meeting was led by Committee Chair Jim O’Brien. EXIM President and Chair Reta Jo Lewis expressed her excitement to begin a historic new chapter at EXIM working to strengthen the Bank’s support of job-creating U.S. strategic minerals and materials exports to sub-Saharan Africa. EXIM officials also discussed the agency’s progress on a domestic financing initiative that will be brought to the Board for a vote this spring.
Admiral Gary Roughead (ret.), the Council Chair of EXIM’s Chair’s Council on China Competition, provided an update on EXIM practices regarding competition in China and how they relate to sub-Saharan Africa.
Following, industry representatives and EXIM senior staff briefed the committee on emerging technologies and sustainability in mining equipment and EXIM support in Africa for strategic minerals and materials. The committee then opened the discussion for public comment.
Established by Congress, the Sub-Saharan Africa Advisory Committee provides guidance and advice regarding EXIM policies and programs designed to support the expansion of financing support for U.S.-manufactured goods and services in sub-Saharan Africa.
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.