Export–Import Bank of the United States facts for kids
|Formed||February 2, 1934|
The Export–Import Bank of the United States (abbreviated as Ex-Im Bank or the Bank) is the official export credit agency (ECA) of the United States Federal Government.
Operating as a wholly owned federal government corporation, the Bank "assists in financing and facilitating U.S. exports of goods and services". Under its charter, the Bank does not compete with private sector lenders, but rather provides financing for transactions that would otherwise not occur because commercial lenders are either unable or unwilling to accept the political or commercial risks inherent in the deal.
Its acting chairman and president is Charles J. Hall, awaiting the nomination and confirmation of a replacement for former chairman and president Fred Hochberg.
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