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Trump wants to revive US Export-Import Bank

Controversy-ridden bank might see a new lease of life as a bank that benefits small businesses and creates jobs

Published Thu, Apr 13, 2017 · 09:50 PM
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Washington

PRESIDENT Donald Trump plans to revive the hobbled Export-Import Bank of the United States, his office said, a victory for American manufacturers such as Boeing Co and General Electric Co which have overseas customers that use the agency's government-backed loans to purchase their products.

Mr Trump first told The Wall Street Journal on Wednesday he would fill two vacancies on the agency's five-member board that have prevented the bank from having a quorum and being able to act on loans over US$10 million. Mr Trump's picks must gain approval from the Senate, which blocked nominees by former President Barack Obama.

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