Fintech executive to Ex-Im: Create pilot programs for high-tech sectors

摘要

The Export Import Bank on Thursday held its final information-gathering session for a congressionally mandated program focused on China, with one financial technologies sector executive suggesting the agency form pilot programs specific to "transformational exports." Ex-Im in May launched the "Strengthening American Competitiveness" initiative to inform its Program on China and Transformational Exports, mandated by Congress in a December bill that reauthorized the bank. The program requires that Ex-Im budget at least 20 percent of its lending authority to help boost U.S. competitiveness against China in a specific set of high-tech sectors or industries with "transformational exports." The initiative consisted of teleconference calls with representatives from eight different high-tech sectors, including renewable energy and space technology, among others. The final teleconference in the series was held on Thursday, with executives from the emerging financial technologies sector. Fred Phillips, CEO of Investor Cash Management, said during the call that Ex-Im's financing programs are tailored to meet the manufacturing needs of the 20th century. Accordingly, he suggested that the bank create new pilot programs for high-tech sectors "that will enable it [Ex-Im] to establish models for how it will be a crucial supporter of U.S. exports and the U.S. jobs they create."