in Business & Finance

Ex-Im on the road to reauthorisation

Posted 29 October 2015 · Add Comment

The US Export-Import Bank (Ex-Im), a vital part in the financing of aircraft and other assets in Africa and the Middle East, has been reauthorised by the US House of Representatives.

The export credit agency passed the legislative body earlier this week with 313 votes in favour, and only 118 against.
 
Both Democrats and Republicans supported the bill, but legislators were only allowed to vote after supporters enforced the vote, as opponents had blocked a vote on reauthorisation.
 
The US Senate is still to vote on the reauthorisation, before it can be moved to President Barack Obama, although support for the reauthorisation is expected.
 
Ex-Im has been able to process new application and continues to honour all deals approved prior to the expiration.  
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