FOR IMMEDIATE RELEASE
December 4, 2015
Contact: Laura Tierney
Email: [email protected]
BCSE Statement on Reauthorization of EXIM Bank
Washington, DC - Business Council for Sustainable Energy (BCSE) President Lisa Jacobson issued the following statement on the reauthorization of the EXIM Bank as contained in H.R. 22, the Surface Transportation and Reauthorization and Reform Act of 2015.
“BCSE is pleased Congress has succeeded in reauthorizing the EXIM Bank and believes that the success of American clean energy firms that are deploying American technology abroad and employing American workers at home is linked to the assistance of government institutions such as EXIM Bank.
“EXIM Bank helps create new market opportunities for American clean energy companies and enables American businesses to provide US technology and innovation to foreign buyers. US firms are often faced with competition from countries that link development assistance with project support, as well as use aggressive national tactics to secure market shares in developing and emerging economies.
“The financial support of vehicles such as EXIM Bank helps to create free, fair and functioning markets in which US firms, including many small to medium-sized clean energy companies, can compete and do business. EXIM provides these opportunities through trade financing solutions – including export credit insurance, working capital guarantees, and guarantees of commercial loans to foreign buyers – to empower exporters of US goods and services.
“The EXIM Bank not only enables US clean energy industries to increase their sales abroad but it also helps to support quality jobs at home. When American businesses are unable to access private export financing, EXIM fills the gaps by equipping them with the tools necessary to compete for global sales. In doing so, the Bank levels the playing field for US exporters, which face stiff foreign competition in overseas markets."
Download the full press release.