The U.S. Senate Banking Committee has approved an executive order that would award a mandate to the U.S. Export-Import Bank (EXIM), the official export credit agency of the United States.
EXIM’s mission is to support American job creation, prosperity and security through exporting by unlocking financing solutions for U.S. companies competing around the globe, according to the company’s website.
According to Investment Monitor, the mandate focuses on providing financial support to the establishment or expansion of domestic manufacturing facilities and infrastructure projects that would facilitate U.S. exports. The mandate pertains to Executive Order 14017, which President Biden signed in February 2021 as part of the Make More in America initiative.
“These structural weaknesses in both domestic and international supply chains threaten the U.S.’s economic and national security,” said EXIM in a statement. “Solving these challenges, fostering eco
