Export-Import Bank of the United States

Extract

The purpose of the Export-Import Bank of the United States (Eximbank) is to “assist in financing and to facilitate export sales of U.S. equipment and services” (Letter of July 18, 1977). Eximbank does not allocate its resources by geographic area; rather it responds to requests for support of American export sales on a case-by-case basis. Eximbank extends its credit in a number of ways. In conjuction with the Foreign Credit Insurance Association, Eximbank “insures short-term (up to 180 days) and medium-term (181 days to 5 years) export credit provided by the private sector.” Second, Eximbank “guarantees the repayment of medium-term export credit extended by U.S. banks to foreign buyers, without recourse to U.S. exporters.” Third, it “facilitates exports of major capital equipment, requiring repayment terms over 5 years through direct loans to foreign buyers for a portion of the required financing.”