US Ex-Im Bank unable to approve loans as charter lapses
Lapse may be temporary as Congress may consider re-authorising the institution next month
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Washington
US exporters including Boeing Co and General Electric Co won't be able to obtain new financing for overseas deals from the US Export-Import Bank (Ex-Im) starting Wednesday.
The lapse in the charter may be temporary as Congress, which let the charter lapse last week, may consider re-authorising Ex-Im next month. The 81-year-old institution provides financing arrangements that help US companies compete for overseas sales.
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