Davidson: A More Ambitious Role For The Bank Must Also Come With Tougher Accountability
Washington,
March 18, 2026
Today, the House Financial Services Committee is holding a National Security, Illicit Finance, and International Financial Institutions Subcommittee hearing, led by Subcommittee Chairman Warren Davidson (OH-08), to conduct oversight over the Export-Import Bank of the United States in preparation for its reauthorization in December 2026. Read Subcommittee Chairman Davidson's opening remarks as prepared for delivery: "I welcome our distinguished witness, John Jovanovic, President and Chairman of the Export-Import Bank. "Today’s hearing provides the Subcommittee an opportunity to review EXIM’s work and authorities as we consider reauthorization of the Bank this year. "Established in 1934, EXIM’s mission is “to contribute to maintaining or increasing employment of United States workers”. As America’s export credit agency (ECA), EXIM contributes to the global competitiveness of our exporters and their employees, providing financing when the market will not or when foreign exports are backed by another ECA. Through its loans, loan guarantees, and insurance programs, the Bank’s financing supported nearly 40,000 jobs and over $12 billion in exports in Fiscal Year 2024. "EXIM faces a competitive export credit landscape from large foreign ECAs. Nowhere is this competition more acute than with the People’s Republic of China, which continues to set export records. The PRC is the world’s largest provider of export credit, and it operates outside the OECD Arrangement. In 2024, the PRC provided its exporters with over $23 billion in medium and long-term loans, quadruple what EXIM provided to American firms. "To help EXIM counter this challenge, in 2019 Congress created the China and Transformational Exports Program or CTEP. CTEP is widely supported and I am eager to see it reauthorized this year. At the same time, we must renew our work with U.S. allies to counter China’s disregard for the rules. This means exerting pressure together through forums such as the International Monetary Fund, the OECD, and the Paris Club. "The Administration recognizes the challenges our exporters face from China and is giving the Bank an increasingly prominent role supporting key initiatives – from AI exports to critical minerals projects such as the $1.4 billion Letter of Interest for Graphite One in my home state of Ohio. "As EXIM looks to take on more strategic projects, I would hope you will leverage your authorities to expand support for nuclear exports, a longtime priority of this Committee. "A more ambitious role for the Bank must also come with tougher accountability, particularly regarding processes and human resources, which have long been a challenge. "We are eager to work with you to strengthen the Bank and its operations so that American exporters have the support they need to compete against subsidized foreign competition. EXIM puts America first by leveling that playing field. So I look forward to your testimony and our discussion today on how we can properly position the Bank to achieve that goal through this reauthorization process."
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