Sec. 9. Export-Import Bank Financing
453 words·~2 min read·
/bill/113/s/718/rs/section-9A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
It is the sense of Congress that foreign export credit agencies are providing non-OECD arrangement compliant financing in Africa, which is trade distorting and threatens United States jobs. Section 6(a) of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635e(a) ) is amended by adding at the end the following: The Bank shall, to the extent that there are acceptable final applications, increase the amount it finances to Africa over the prior year’s financing for each of the first five fiscal years beginning after the date of the enactment of the Increasing American Jobs Through Greater Exports to Africa Act of 2013 . .
Not later than 1 year after the date of the enactment of this Act, and annually thereafter for 5 years, the Export-Import Bank shall report to the Committee on Banking, Housing, and Urban Affairs , the Committee on Foreign Relations , and the Committee on Appropriations of the Senate and the Committee on Financial Services , the Committee on Foreign Affairs , and the Committee on Appropriations of the House of Representatives if the Bank has not used at least 10 percent of its lending capabilities for projects in Africa as described in paragraph
(4)of section 6(a) of the Export-Import Bank of 1945, as added by paragraph (2). The report shall include the reasons why the Bank failed to reach this goal and a description of all final applications for projects in Africa that were deemed unworthy of Bank support. The Bank shall make available annually such amounts as are necessary for loans that counter trade distorting non-OECD arrangement compliant financing or preferential, tied aid, or other related non-market loans offered by other nations for which United States companies are also competing or interested in competing. Not later than 1 year after the date of the enactment of this Act, and annually thereafter for 5 years, the Export-Import Bank shall submit to the Committee on Banking, Housing, and Urban Affairs , the Committee on Foreign Relations , and the Committee on Appropriations of the Senate and the Committee on Financial Services , the Committee on Foreign Affairs , and the Committee on Appropriations of the House of Representatives a report on all loans made or rejected that were considered to counter non-OECD arrangement compliant financing offered by other nations to its firms. The report shall not disclose any information that is confidential or business proprietary, or that would violate section 1905 of title 18, United States Code (commonly referred to as the Trade Secrets Act ). The report shall include a description of trade distorting non-OECD arrangement compliant financing loans made by other countries during that fiscal year to firms that competed against the United States firms.
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 9
Export-Import Bank Financing
Cites 1Cited by 0 across 0 sources