Public Lending Institutions
in the United States
The Export-Import Bank (EIB)
Organization and Purpose The Export-Import Bank, established in 1934 as a District
of Columbia banking corporation, was reincorporated as
an independent agency of the United States Government
by the Export-Import Bank Act of 1945. The basic purpose of the Bank, stated in the 1945 Act, is to aid in
financing the exports and imports of the United States.
Requests to the Bank for assistance originate either with United States exporters or with overseas governments and
firms. It is a statutory requirement of the Bank that its
loans supplement and encourage, but do not compete with,
Types of Loans
|1. ||Project credits . Project credits are extended to both
private firms and governmental entities, including financial
intermediaries, to finance the sale of United States capital
equipment and services.|
|2. ||Emergency foreign trade credits . These credits are
to help foreign countries facing temporary foreign-exchange shortages maintain their level of imports from the United States.|
|3. ||Credits for financing exports of agricultural commodities.|
|4. ||Exporter credits and guarantees for short- and medium-term export credits. The Bank also partially under-
writes the export credit insurance of the Foreign Credit
The Bank's current standard rate of interest is 5½ per
cent, and project loans have a maturity of from five to
Questia, a part of Gale, Cengage Learning. www.questia.com
Book title: Public International Lending for Development.
Contributors: Raymond F. Mikesell - Author.
Publisher: Random House.
Place of publication: New York.
Publication year: 1966.
Page number: 224.
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