News

Washington, DC - The Congressional Black Caucus (CBC) invited Export-Import Bank of the United States (EXIM) President and Chair Reta Jo Lewis to the CBC’s Weekly Business Meeting to discuss and emphasize EXIM's commitment to fostering economic equity and increasing opportunities for minority and women owned businesses.

During the meeting, members of the CBC and Chair Lewis engaged in a productive discussion regarding opportunities to promote inclusivity, drive economic growth, and empower historically underrepresented entrepreneurs through global trade.

The joint efforts centered around four primary goals:

EXIM’s Sub-Saharan Mandate: Just last week EXIM approved a direct loan for more than $900 million to the Ministry of Energy and Water of the Republic of Angola to support the construction of two photovoltaic solar energy power plants in the country. The transaction is estimated to support 1,600 jobs across the United States. EXIM wants to work with the CBC to meet its Sub-Saharan Africa mandate and President Biden’s PGII goals.

EXIM’s Small Business Mandate, especially in support of Minority and Women Owned Businesses: EXIM and the CBC recognize that access to capital is critical for business growth and highlighted the need to expand financial resources available to minority and women owned businesses. EXIM reaffirmed its efforts in providing equitable access to financing, export credit insurance, and loan guarantees, ensuring that all entrepreneurs, regardless of background, have a fair chance to compete in the global marketplace.

Further, acknowledging the significance of business development and technical support, the CBC and EXIM also affirmed their commitment to working together to enhance outreach efforts and programs designed specifically for minority and women owned businesses. This collaboration will equip business owners with the necessary tools, resources, and mentorship opportunities to strengthen their competitiveness, expand their markets, and thrive in the international trade arena.

EXIM will work with the CBC to increase corporate engagement at the district level: Promoting supplier diversity emerged as a key focus area during the meeting. Both the CBC and EXIM recognized the immense potential for minority and women owned businesses to contribute to the supply chains of large corporations and government entities. By advocating for inclusive procurement practices and fostering partnerships between corporations and these enterprises, EXIM and the CBC seek to create a level playing field and unlock new opportunities for growth and collaboration and bolster manufacturing under EXIM’s Make More In America Initiative.

Policy Advocacy: The CBC and EXIM will follow-up on next steps to collaboratively address the unique challenges faced by minority and women owned businesses. This joint effort will encourage legislative and regulatory changes that foster economic equity, eliminate barriers to entry, and promote a more inclusive business environment.

The meeting concluded with a commitment from both the CBC and EXIM to strengthen their collaboration and maintain an ongoing dialogue to ensure the successful implementation of these goals. This partnership signifies a significant step forward for the U.S. government in advancing economic equity and empowering minority and women owned businesses, reinforcing the principles of fairness, diversity, equity, and inclusivity.

The Congressional Black Caucus and the Export-Import Bank of the United States remain dedicated to working together and fostering an environment where all entrepreneurs, regardless of their race or gender, can thrive and contribute to the economic growth of the United States.