Number: 98-568
Title: Export-Import Bank: Background and Legislative Issues
Authors: Danielle Langton, Foreign Affairs, Defense, and Trade Division 
Abstract: The Export-Import Bank is the chief U.S. government agency that helps finance American exports of manufactured goods and services. With a budget of around $200 million, the Bank finances less than 1% of U.S. exports a year. Eximbank provides guarantees and insurance to commercial banks to make trade credits available to U.S. exporters. The Bank also offers direct financing to U.S. exporters on a limited basis, primarily to counter subsidized trade credits offered to foreign exporters by their governments. On December 26, 2007, President Bush signed the Consolidated Appropriations Act of 2008 (P.L. 110-161), which provides $68 million for the Bank's subsidy costs and $78 million for administrative expenses. On December 20, 2006, President Bush signed P.L. 109-438, to reauthorize the Bank's authority through September 30, 2011.
Pages: 6
Date: February 12, 2008