A Reporter's Guide To Ex-Im Bank

What Does Ex-Im Bank Do?

The Export-Import Bank of the United States (Ex-Im Bank) is the official export credit agency of the United States. Our mission is to aid in financing and to facilitate exports of goods and services, and in so doing to contribute to the employment of U.S. workers. We enable U.S. companies large and small to turn export opportunities into real deals.

What Is Ex-Im Bank?

Ex-Im Bank provides export financing products - loan guarantees, export credit insurance, and direct loans - that fill gaps in standard commercial trade financing. As an independent U.S. government agency, we assume credit and country risks the private sector is unable or unwilling to accept. We also help to level the playing field for U.S. exporters by providing financing where there is foreign competition supported by official export assistance from other countries. But at the same time, every transaction we approve must meet our requirement of reasonable assurance of repayment. Our support allows U.S. exporters to break into new markets and increase their export sales.

In fiscal year 2003 we supported more than 2,700 transactions to buyers in approximately 90 countries valued at approximately $14.3 billion. On average, in excess of 80% of our transactions directly benefit U.S. small businesses. No transaction is too large or too small. We support a wide variety of exports, from machinery and agricultural products to consumer goods, aircraft, medical equipment, environmental equipment, equipment for large infrastructure projects, and engineering and other services.

Ex-Im Bank's History

Ex-Im Bank was established by executive order of President Franklin D. Roosevelt in 1934 to make loans to the Soviet Union, and established as an independent U.S. government agency by the Export-Import Bank Act of 1945. The Bank's first transaction was a $3.8 million loan to Cuba in 1935 for the purchase of U.S. silver ingots. Since its formation, the Bank has helped finance more than $450 billion in U.S. exports.

How Do U.S. Companies And Foreign Buyers Reach Ex-Im Bank?

U.S. companies and foreign buyers come to Ex-Im Bank in a number of ways: through an exporter's or a foreign buyer's bank, through Ex-Im Bank regional offices and other business development efforts, and through referrals from a variety of Ex-Im Bank public and private sector partners.

How Do Ex-Im Bank Financing Products Help U.S. Exporters?

Ex-Im Bank guarantees or insures financing and extends credit directly to international buyers to facilitate purchases of U.S. goods and services. Ex-Im Bank’s export credit insurance programs enable exporters to increase their export sales by reducing non-payment risk while enabling exporters to extend competitive credit terms to buyers. The Bank also provides working capital loan guarantees that enable U.S. exporters to obtain financing that provides them with the liquidity to support their international sales.

We also have a number of special incentive programs to support U.S. exports. For example environmental exports, medical equipment exports, and transportation security equipment exports all qualify for special financing enhancements.

Does Ex-Im Bank Work With Other U.S. Government Agencies?

Ex-Im Bank is constantly working to develop new financing products and programs to meet changing customer needs. We work closely with U.S. government partners, such as the Small Business Administration, the Commerce Department , the Overseas Private Investment Corporation , and the Trade Development Agency , to provide a wide range of U.S. export financing and technical assistance.

What Is The Relationship Between Ex-Im Bank And Multilateral Financial institutions such as The World Bank and the Inter-American Development Bank?

Ex-Im Bank is an independent U.S. government agency. We are not a multilateral entity like the World Bank . And we are not an aid agency, but a trade agency that requires reasonable assurance of repayment on every transaction we approve. Ex-Im Bank sometimes helps finance U.S. exports to foreign projects that also are receiving financing from the World Bank and/or regional development banks such as the Inter-American Development Bank or the African Development Bank , or other export credit agencies similar to Ex-Im Bank.

How Can Reporters, Companies And Lenders Find Out More About Ex-Im Bank?

In addition to visiting our web site, Monday through Friday reporters may call 202-565-3200 to reach Ex-Im Bank's Office of Communications. After hours and on holidays, the public affairs duty officer may be reached at mobile phone 1-202-746-1676.

Potential customers seeking to access Ex-Im Bank services can call 1-800-560-EXIM (3946) and select option two to be connected to the Ex-Im Bank regional office nearest them.

Page updated: March 22, 2007