ExIm Bank President Announces New Program to Counter China

WASHINGTON (EXIM Bank PR) – Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today hosted a teleconference roundtable discussion with over 180 business leaders and stakeholders in the space technology sector. The event was the fifth teleconference in EXIM’s “Strengthening American Competitiveness” initiative, which provides valuable stakeholder input to EXIM’s new Program on China and Transformational Exports.

On the call, Chairman Reed highlighted how EXIM’s partnership with the private sector can provide new economic and security opportunities for U.S. companies. She also underscored EXIM’s commitment to accelerating the success of American companies in this key sector.

“On July 20, we will celebrate Space Exploration Day and the 51st anniversary of the historic moon landing. I felt that same sense of American innovation and purpose when, at Andrews Air Force Base on December 20, 2019, President Trump established the Space Force and, later that night on Air Force One, signed into law EXIM’s historic reauthorization,” said Chairman Reed. “Moreover, just a few weeks ago and with the assistance of the commercial sector, the United States reestablished itself as capable of launching humans into space on American-made rockets. Mindful of China’s advances in related technology, today I had the pleasure of talking with some of the nation’s top space technology companies—big and small—about what EXIM can do to help them remain innovative and competitive worldwide.”

“Having spent 20 years in this sector, I am excited to participate in today’s call to discuss opportunities for future collaboration between EXIM and the U.S. space industry,” said EXIM Board Member Judith D. Pryor. “Space technologies can be harnessed to advance many sustainable development goals including food security and agriculture, improved health outcomes, and natural resource and environmental management. Today’s conversation is a great way for EXIM to understand what’s needed to help level the playing field for our U.S. space exports.”

David Trulio, Senior Vice President for the Program on China and Transformational Exports, added, “EXIM is excited to work collaboratively with U.S. exporters, including in early stages of international opportunities, in order to advance American leadership and support innovative space technology solutions.”

Also giving remarks in the roundtable discussion were:

  • Robbie Schingler, Co-Founder and Chief Strategy Officer, Planet
  • Paul Estey, Executive Vice President and Chief Operating Officer, Maxar
  • Stephanie Bednarek, Director of Commercial Sales, SpaceX
  • John Serafini, Chief Executive Officer, Hawkeye 360
  • Grant Barber, Chief Financial Officer, Hughes Communications, Inc.
  • Pacôme Révillon, Chief Executive Officer, Euroconsult

“The global space industry is going through major transformation and breakthrough innovation in an increasingly data centric-world,” said Euroconsult Group CEO Pacôme Révillon. “This context leads to faster decision making, including for the financing process, to capture windows of opportunity. It also relies on the ability to work with a wider diversity of stakeholders and economic models.”

“For U.S. businesses to be at the vanguard of transforming space into a commercial trillion dollar space economy, we need innovative and forward leaning policies, partnerships and procurements from the public sector,” said Co-Founder and Chief Strategy Officer of Planet Robbie Schingler. “Rethinking how the U.S. Government can support fast moving entrepreneurial companies will enable American companies to successfully compete in a dynamic international marketplace and ensure that the 21st Century space revolution is led by U.S. enterprise.”

“The U.S. Export-Import Bank plays a crucial financing role that helps bring jobs, innovation and revenue to satellite manufacturing businesses across the U.S in the face of strong competition overseas,” said Paul Estey, Maxar’s Executive Vice President of Customer Relations for Space Infrastructure. “We are encouraged by EXIM’s willingness to increase the speed and flexibility with which it approaches financing space projects, which will in turn increase U.S. competitiveness in the global satellite market.”

The Program on China and Transformational Exports, established in EXIM’s historic seven-year reauthorization, directs EXIM to provide financial products to directly neutralize export subsidies offered by the People’s Republic of China, helping to ensure a level playing field for U.S. businesses and workers as they compete globally. The program has the aim of advancing the comparative leadership of the United States and supporting U.S. innovation, employment, and technological standards globally in ten transformational export industries.

More information on EXIM’s “Strengthening American Competitiveness” initiative, including a full schedule of teleconferences and recordings of previous events, can be found here.

ABOUT EXIM:

EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, approximately 90 percent of the total number of the agency’s authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.

For more information about EXIM, please visit www.exim.gov.