On March 26, 2026, John Jovanovic, President and Chairman of the Export-Import Bank of the United States (EXIM), testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. The hearing focused on oversight of EXIM and the critical importance of reauthorising the Bank to continue supporting American jobs by prioritising American-made equipment, technology, molecules, and services.

Chairman Jovanovic said, “Ninety-two years after its founding to support American workers and companies, large and small, our mission resonates more than ever.” 

“As American companies compete in markets where competitors are investing heavily to capture strategic industries, the United States cannot afford to sit on the sidelines. Reauthorising and strengthening EXIM will ensure the next generation of global industry is built with American workers, American technology, and American leadership,” he added. 

EXIM as a frontline economic tool

During his testimony, Chairman Jovanovic highlighted EXIM’s role as a frontline economic instrument to revitalise American industry, secure supply chains, and enable American workers and exporters to compete globally. He emphasised the necessity of long-term reauthorisation to provide U.S. businesses with the certainty needed to pursue international opportunities.

Small and medium-sized businesses form the foundation of EXIM’s mission, with nearly 90% of its transactions directly supporting American small business exporters. This support equips entrepreneurs and manufacturers with financing tools essential for global competitiveness.

Jovanovic assured the Committee of EXIM’s strong stewardship of taxpayer resources and disciplined underwriting practices. Since 1992, EXIM has returned $9.7 billion to the U.S. Department of the Treasury, contributing to the reduction of the national debt. The Bank continues to prioritise support for small business exporters, ensuring access to financing that enables success in global markets.

A focus on priorities and recent initiatives

Chairman Jovanovic outlined four strategic priorities guiding EXIM’s efforts. This includes i) expanding market access for American exporters ii) ensuring American energy molecules and technologies reach global markets iii) strengthening supply chain security iv) leading industries that will define the future and support well-paying jobs.

He highlighted recent projects to showcase EXIM’s impact, including a $27 million loan to 6K Additive in Pennsylvania to expand domestic production of critical metals for aerospace and defence, and financing for CesiumAstro, a Texas-based satellite communications manufacturer expected to create nearly 400 high-quality American jobs.

EXIM also supports the export of American energy technologies, fostering economic partnerships based on energy security.

Another initiative he talked about was Project Vault. On EXIM’s 92nd anniversary, Project Vault, a nearly $12 billion initiative, was announced to establish the U.S. Strategic Critical Minerals Reserve. This project aims to ensure American manufacturers can withstand supply chain shocks and shortages of essential raw materials, combining private capital and government financing without taxpayer exposure.

EXIM’s request for Congressional support

To sustain EXIM’s momentum, Chairman Jovanovic requested Congress to support three key provisions in the reauthorisation legislation, including reauthorising EXIM and the mission-critical China and Transformational Exports Program and addressing constraints under the current default rate cap, considering existing risk mitigants. It also includes providing hiring flexibility to recruit specialised expertise for complex transactions, supporting American industry and national security.

He concluded by reaffirming EXIM’s commitment to putting American workers, technology, and manufacturing first and expressed readiness to answer questions from the Committee.