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USCIB Welcomes Reauthorization of Export-Import Bank
New York, N.Y., May 16, 2012 – The United States Council for International Business (USCIB) welcomed Congressional reauthorization of the Export-Import Bank of the United States. USCIB President and CEO Peter M. Robinson applauded yesterday’s strong vote of support in the Senate, saying that “failure to reauthorize Ex-Im’s operations would have dealt a major blow to U.S. exports, potentially costing thousands of American jobs.”
In an earlier letter and ad, USCIB joined with other leading business groups to make the case for Ex-Im’s reauthorization. They sought to dispel many of the myths surrounding Ex-Im, noting that the bank has a proven record of success, provides significant assistance to SME exporters, fills a gap in financing for U.S. exports to developing countries and exposes U.S. taxpayers to very little risk – in fact returning some $3.4 billion to the U.S. Treasury since 2005.
“Failure to reauthorize Ex-Im would have amounted to unilateral disarmament,” Robinson stated. “Other countries are aggressively ramping up funding for their exports, potentially freezing us out of critical overseas markets. With broad support from American business, and with exports and job creation a top priority for our country, Ex-Im has an important role to play.”
About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More information is available at www.uscib.org.
Contact:
Jonathan Huneke, VP communications, USCIB
(212) 703-5043 or jhuneke@uscib.org
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