AIA Welcomes Confirmation of Export-Import Bank Nominees

Statement by Aerospace Industries Association President and CEO Eric Fanning on the Senate vote confirming the nominees for the Export-Import Bank of the United States

Arlington, Va. — Today’s confirmation of Kimberley A. Reed as President, and Spencer Bachus III and Judith DelZoppo Pryor as Members of the Export-Import Bank’s Board of Directors, is a long-awaited step towards putting the Bank back in the business of supporting American exporters of all sizes.

The Bank now has the required number of Directors to approve transactions over $10 million, and immediately can begin work to reduce the backlog of $40 billion in deals that have been awaiting approval. This begins to put American exporters on a level playing field with international competition with active support from their domestic export credit agencies.

The next step to send a clear signal that America is serious about competing in the global marketplace is for Congress to begin work on a long-term authorization for the Bank. The Bank’s current authorization expires at the end of the fiscal year, and American exporters will once again be fighting an uphill battle if Congress fails to pass a reauthorization bill.

The Bank is an important tool for American industry, including aerospace companies of all sizes. We look forward to working with Congress and the administration to ensure the Bank has the support it needs to fulfill its critical mission of supporting American exporters.