The U.S. Export-Import Bank (Ex-Im) announced a new goal today, pledging $2 billion in financing for U.S.-manufactured business airplanes and helicopters by year-end. It reached a previously announced goal of $1 billion in financing for these exports in December, 10 months ahead of schedule.
The U.S. Senate approved legislation yesterday to reauthorize the Export-Import Bank, bringing to conclusion a dispute in Congress driven by the airline industry’s opposition to export financing of Boeing long-range aircraft purchased by competing foreign carriers. The Export-Import Act of 2012 (H.R.2072) was approved a week earlier by the House and is expected to be signed by President Obama. The bill extends the bank’s charter through 2014 and increases its lending authority by $40 billion, to $140 billion.