BAFT Welcomes Ex-Im Renewal

ABA’s trade finance subsidiary, BAFT, today applauded the passage of legislation reauthorizing the Export-Import Bank of the United States. Since July, the bank has been unable to issue new loan guarantees. ABA and BAFT advocated strongly for the renewal of Ex-Im’s charter.

“The overwhelming bipartisan support in both chambers reflects how important Ex-Im is to supporting U.S. jobs, U.S. competitiveness abroad and growing the U.S. economy through exports,” BAFT President and CEO Tod Burwell said. “The reauthorization through fiscal year 2019 provides reassurance to American companies that have suffered from a lack of financing during the five months that the bank’s charter lapsed.”