Statement from Export-Import Bank of the United States President and Chair Reta Jo Lewis on the One Year Anniversary of President Biden’s Supply Chain Executive Order
“One year ago, President Biden issued Executive Order 14017 focused on strengthening America’s supply chains. The Executive Order was a significant step forward in shifting the production of critical goods to be ‘Made in America’ and bolstering the domestic workforce. The President emphasized the need for America’s manufacturers – especially small- and medium-sized businesses – to have wider access to the financing necessary to expand their operations globally. EXIM is in an integral position to facilitate that growth.
Today, I am pleased to announce that the EXIM Board of Directors will be voting later this spring on a domestic financing initiative that will support this effort by offering new financing opportunities for the establishment or expansion of U.S.-based manufacturing and infrastructure facilities with an export nexus. The initiative will also offer financing priority to environmentally beneficial, small business, and transformational export area transactions, including semiconductors, biotech and biomedical products, renewable energy, and energy storage.
If passed, the initiative will help revitalize American manufacturing and improve the resiliency of our supply chains, ultimately placing American companies and workers in a prime position to win the future of global economic competition.”
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.