Fred P. Hochberg issued the following statement on his confirmation by the U.S. Senate to serve a second term as President of the Export-Import Bank of the United States.
FOR IMMEDIATE RELEASE July 17, 2013
Jamie Radice (202-565-3200)
I am honored to have been reappointed by President Obama and confirmed by the Senate for another term as President of the Export-Import Bank. I look forward to working with the excellent team at Ex-Im on behalf of American exporters, supporting jobs here at home through sales abroad.
As we continue our economic recovery, exports continue to play a key role. Over the past four years, Ex-Im Bank's financing has supported nearly one million American jobs and helped thousands of small businesses expand their reach into international markets. The Bank also delivered more than $1 billion to the U.S. Treasury during this period at no cost to American taxpayers.
Moving forward, all of us at Ex-Im will continue to work with members of Congress, our Board and customers to ensure that America's workers, small business owners, and exporters have access to the financing they need. We will work to ensure America's exporters are able to compete on a level playing field and sell their products and services around the world.
About 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. This total includes more than $6.1 billion directly supporting small-business export sales - also an 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 in communities across the country. For more information, visit www.exim.gov.