GAO Says Ex-Im Did Not Finance Dual-Use Exports in 2007-2009
The Government Accountability Office has posted a report to Congressional Committees1, “Export Promotion: The Export-Import Bank’s Financing of Dual-Use Exports,” which states that Ex-Im did not finance any dual-use exports in fiscal years 2007, 2008, or 2009.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
(Ex-Im has statutory authority to provide loans, guarantees, and insurance to help finance U.S. exports of defense articles and services, provided that it determines these items are nonlethal and meant primarily for civilian use (dual-use exports).)
Ex-Im Has Not Financed Dual-Use Exports Since FY 2002
GAO’s report is intended to cover Ex-Im financing for dual-use exports in fiscal years 2007 through 2009; however, GAO states that Ex-Im did not finance any dual-use exports in fiscal years 2007, 2008, or 2009.
According to Ex-Im's Vice President of the Engineering and Environment Division, and GAO’s review of relevant data on Ex-Im authorizations, Ex-Im last financed dual-use exports in fiscal year 2002.
1The Senate Committees on Banking, Housing, and Urban Affairs and on Appropriations; and the House Committees on Financial Service and on Appropriations.
(See ITT’s Online Archives or 10/03/08 news, 08100399 #6, for BP summary of GAO’s 2008 report, which also stated that Ex-Im did not finance any dual-use export projects in FY 2006.)