COVID-19: EXIM Chair Outlines Temporary Relief Measures For American Businesses


President and Chairman of the Export-Import Bank of the United States (EXIM) Kimberly A. Reed March 25, hosted a teleconference for more than 400 diverse registrants—including business, financial institution, trade association, and other external stakeholders; local, state, and federal government officials; academia and EXIM Advisory Committee and Sub-Saharan Africa Advisory Committee members, to outline EXIM’s temporary relief measures put in place for American businesses and workers impacted by the COVID-19 outbreak.

 This stakeholder teleconference immediately followed and underscored the outcomes from an EXIM Board of Directors open meeting teleconference that included Chairman Reed, Board Members Spencer Bachus III and Judith Pryor, ex officio Board Members U.S. Secretary of Commerce Wilbur Ross and United States Trade Representative Ambassador Robert Lighthizer.

Building on EXIM temporary relief measures announced on March 12 to assist small businesses, the Board  unanimously approved a resolution in support of additional temporary programmes, including bridge financing, pre-delivery/pre-export financing, supply chain financing guarantee, and work capital guarantee programmes.

 Also participating in the stakeholder teleconference was EXIM Chief Banking Officer Steve Renna, who outlined EXIM’s just-announced temporary relief measures, and Senior Vice President of External Engagement Luke Lindberg, who moderated a question-and-answer section of the call.

 “EXIM was created to step in during challenging times like this and plays an important role in a strong whole-of-government response,” said Chairman Reed. “As we focus on the well-being of our nation’s businesses, workers, and families, our external stakeholders will help us make an even greater positive impact and we thank them for their engagement.”

 “EXIM’s goal is to prevent a liquidity crisis for U.S. exporters from becoming a solvency crisis,” said Renna. “EXIM has responded with immediate relief measures for our existing clients and measures to provide additional financing options so export transactions can proceed throughout the COVID crisis and beyond.”

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