WASHINGTON, D.C. – President and Chairman of the Export-Import Bank of the United States (EXIM) John Jovanovic testified before the U.S. Senate Committee on Banking, Housing and Urban Affairs March 26 during a hearing examining oversight of the Bank and the importance of reauthorizing EXIM. The discussion focused on importance of ensuring the Bank can continue putting American made equipment, technology, molecules and services first–all to support American jobs.
“Ninety-two years after its founding to support American workers and companies, large and small, our mission resonates more than ever,” said Chairman Jovanovic. “As American companies compete in markets where competitors are investing heavily to capture strategic industries, the United States cannot afford to sit on the sidelines. Reauthorizing and strengthening EXIM will ensure the next generation of global industry is built with American workers, American technology, and American leadership”
During his testimony, Chairman Jovanovic underscored that EXIM is a frontline economic tool to revitalize American industry, secure supply chains and ensure American workers and exporters can compete around the world. He stressed the importance of long-term reauthorization to give U.S. businesses the certainty they need to pursue opportunities in global markets. And he made clear that small and medium-sized businesses aren't just beneficiaries of EXIM's mission; they're the foundation of it. Nearly 90% of EXIM's transactions directly support American small business exporters, giving entrepreneurs and manufacturers the financing tools to compete and win.
As Congress evaluates legislation to renew EXIM’s authorization, the Bank continues to emphasize strong stewardship of taxpayer resources and disciplined underwriting practices. Since 1992, EXIM has returned $9.7 billion to the U.S. Department of the Treasury to help reduce the national debt, and nearly 90% of its total transactions directly support U.S. small business exporters — ensuring American entrepreneurs and manufacturers have access to the financing tools needed to compete and succeed in global markets.
View the full hearing here.
