President Biden Nominates Former U.S. Congressman Spencer Bachus to be a Member of EXIM’s Board of Directors
Washington, DC — President Joe Biden has nominated former U.S. Representative Spencer Bachus III to the Board of Directors at the Export-Import Bank of the United States. EXIM’s President and Chair, Reta Jo Lewis, who has worked with Congressman Bachus during his previous service on EXIM’s Board, welcomes the news of the President’s nomination.
Congressman Bachus, a Republican, served on the EXIM Board of Directors from May 9, 2019, through July 20, 2023. Congressman Bachus also formerly served as a U.S. Representative from Alabama and as Chairman of the House Committee on Financial Services, which is responsible for overseeing and advancing legislation related to EXIM.
Chair Lewis said, "Congressman Bachus’ significant experience and expertise in finance and trade has helped further EXIM’s mission to support American jobs by facilitating the export of U.S. goods and services. His leadership and dedication to promoting economic growth will benefit the Bank and the American people.”
If confirmed by the Senate, Congressman Bachus will rejoin the Board of Directors, which reviews and approves transactions and considers program and policy matters, among other duties, that support the Bank’s efforts to fulfill its statutory mission of facilitating exports and supporting jobs.
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.