Export-Import Bank

The Export-Import Bank is an official export credit agency established by a national government to promote the export of domestic goods and services, and to support the import of key equipment and technology, by providing export credit, guarantees, insurance, and other financial support. In foreign trade, it is often used for medium- and long-term financing projects such as large complete equipment and overseas engineering contracting, helping enterprises avoid political and commercial risks. When using this term, note that policies and business scopes differ among countries. For example, the Export-Import Bank of China mainly supports the export of mechanical and electrical products, high-tech products, and overseas contracting projects, while the Export-Import Bank of the United States focuses more on providing credit support to U.S. exporters. Unlike commercial banks, the Export-Import Bank does not primarily aim for profit and is more policy-oriented. Compared with ordinary trade finance, its loans have longer terms and more favorable interest rates, but the application process is stricter and must comply with national industrial and foreign trade policies.