Eximbank 'Actively Expanding' U.S. Trade & Investment with Africa

Five members of the Sub-Sahara Africa Advisory Committee (SAAC) at the Export-Import Bank of the United States (Eximbank) are defending the record and important role of the Bank - official U.S. government export credit agency - in promoting trade and investment in Africa. The Committee is an independent body made up of professionals with extensive Africa experience.

Writing in their personal capacities, the five take issue with some conclusions in an audit issued by the Bank's Inspector General that concludes the institution is not fulfilling a commitment to expand economic engagement with the region. "EXIM's programs and policies in sub-Saharan Africa were not a key driving force in the growth of U.S. exports", the report says, adding: "programs and policies in sub-Saharan Africa had a small positive impact on employment in the United States."

''The report does not provide a comprehensive picture of our efforts in the region,'' said in an statement emailed to Bloomberg for an article published earlier this month. The audit includes nine recommendations, starting with creation of a lead office "responsible for coordinating development, oversight, and implementation of a sub-Saharan Africa specific strategy". Managmewnt concurred with all nine recommendations, according to the published document.

In a letter provided to AllAfrica for publication, the five members of the advisory committee defend the Bank's record and call for and "accurate" accounting of Eximbank'sachievements. "The IG report does not provide a fulsome picture of the work Eximbank is currently engaged in across Africa," they write. "Eximbank currently has the most active presence in Africa and engagement with the African diaspora in its history."