Export Finance:

The Role of the U.S. Export-Import Bank

GGD-93-39: Published: Dec 23, 1992. Publicly Released: Dec 23, 1992.

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Pursuant to a congressional request, GAO reviewed the Export-Import Bank's (Eximbank) mission, function, and current activities, focusing on: (1) Eximbank's delivery of services to small businesses; (2) the administration of the Eximbank export credit insurance program; (3) credit reform and the Eximbank country risk assessment system; (4) the use of tied aid; and (5) Eximbank's coordination with other agencies.

GAO found that: (1) Eximbank has no overseas offices, and its only regional offices are administered by the Foreign Credit Insurance Association (FCIA) to market the Eximbank insurance program; (2) Eximbank formed a new small business group to focus on the needs of smaller firms; (3) export credit insurance constituted 40 to 80 percent of Eximbank assistance to exporters during fiscal years 1986 to 1991; (4) Eximbank had less oversight and control over its insurance operation and the associated costs during the 9-month contract period than it did under its previous arrangement with FCIA; (5) Eximbank is considering using its regional offices to market all of its programs; (6) Eximbank did not determine the cost to the government of providing various types of export financing; (7) Eximbank has relied on international agreements and negotiations to reduce competitors' use of tied aid; and (8) Eximbank has worked well with other agencies to coordinate policies, but it has not been as effective in coordinating its programs with other agencies.

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