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Reauthorisation of US financial agency Ex-Im Bank likely with significant reforms despite calls for its disbandment

30 July 2014

EVENT

The United States Congress Oversight and Government Reform Committee on 29 July held a congressional hearing into corruption accusations involving employees at the US Export-Import Bank (Ex-Im Bank).

Ex-Im Bank is an independent US government agency that in 2013 provided USD27 billion in finance, loan guarantees, and credit insurance to firms involved in supporting US exports to politically risky international markets. According to Representative Jim Jordan, the chair of the investigative panel, allegations of the agency's misconduct involve former and current Ex-Im Bank personnel who have been accused of taking cash for deal approvals and fraudulent reporting practices by bank clients.



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