Exim Bank Authorized Over $35.7 Billion in Export Financing in Fiscal Year 2012
The Export-Import Bank of the U.S. authorized nearly $35.8 billion in export financing that supported around $50 billion in exports and 255,000 American jobs in fiscal year 2012, it said in an annual report. This is the fourth consecutive record-breaking year, it said.
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Among other things, the amount of export financing was 10% larger than in FY 2011 and more than double the amount from FY 2008. In the four years since 2008, the bank has funded transactions that have enabled more than $170 billion worth of American exports, it said. Support for women- and minority-owned small business exporters was one of the fastest growing markets, with loans up almost 17% this year, it said. Geographically, Asia and the Middle East were the bank's largest regions in FY 2012, with a $9.5 billion increase over FY 2011. Ex-Im-supported exports in sub-Saharan Africa tripled over the past four years.