Export-Import Bank of the United States, also called Eximbank, is an independent agency of the United States government. The bank provides financial services that promote the export of U.S. goods and services and thus enable U.S. exporters to compete with foreign companies on the world market. In some cases, Eximbank lends money to buyers of U.S. exports. The bank also guarantees the repayment of loans made by commercial banks to finance export activities and offers insurance on the credit exporters extend to foreign purchasers.
Established in 1934, Eximbank has authorized billions of dollars worth of export assistance. A five-member board of directors manages the agency, which has headquarters in Washington, D.C. The directors are appointed by the president, subject to approval by the Senate.
