As part of his initiative to boost U.S. exports and U.S. jobs, President Barack Obama will address the 2010 Annual Conference of the Export-Import Bank of the United States (Ex-Im Bank) March 11 in Washington, D.C.
To ensure proper representation for the interests of its packaging and processing manufacturing members, the Packaging Machinery Manufacturers Institute (PMMI) also has sent Ryan Oklewicz, who coordinates global marketing efforts for the association and is a member of its market development team.
"Building upon the President's announcement of the National Exports Initiative in his State of the Union address, we are committed to creating 2 million new U.S. jobs by doubling exports over the next five years," remarked Ex-Im Bank chairman and president Fred P. Hochberg. "Strengthening U.S. competitiveness is a critical part of his economic plan. The President's presence not only benefits all participants in the conference, but also raises awareness of the critical importance of exports."
Ex-Im Bank, an independent, self-sustaining federal government agency, exists to fill gaps in export financing, to strengthen U.S. export competitiveness and create and maintain U.S. jobs. The agency has a 76-plus year history of providing financing to help small and medium-sized U.S. businesses, export credit insurance to protect against non-payment by foreign buyers; and loan guarantees and direct loans to assist foreign buyers of U.S. goods and services
In fiscal 2009, overall Ex-Im Bank financings came to $21 billion, while authorizations for small business exporters totaled $4.36 billion, both historic highs. In the first four months of fiscal 2010, the Bank authorized a record $10.9 billion in loans, guarantees, and insurance, which the agency claims is more than three times the amount authorized in the same period of fiscal 2009.