In Brief: Ex-Im Bank to Station Loan Officer in Beijing

The U.S. Export-Import Bank, which guarantees bank loans for U.S. exports overseas, plans to assign a loan officer to the U.S. embassy in Beijing starting May 1 for six months, a spokeswoman for the Washington-based bank said.

It would be the second time the bank had put an officer in Beijing as part of an effort to boost U.S. exports to China. The bank has also temporarily assigned loan officers to U.S. embassies in Latin America in the past, she added.

The bank authorized $11.5 billion in loan guarantees and insurance for the fiscal year that ended Sept. 30, roughly as much as in the previous 12 months.

The bank was set up 64 years ago; its charter must be periodically renewed by Congress. The current charter, authorized in 1992, is due to expire at the end of September.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER