National Export Strategy 2002 - International Trade Administration ...

Unlocking America’s Potential
Streamline Trade Finance and Investment Processes
Exporters and lenders who have used the general trade and investment programs of
Ex-Im Bank, OPIC, and SBA report overall good results. The most common
complaint is that lengthy applications and processing times add to their uncertainty
and can contribute to lost opportunities. They would like to see processing times
reduced for OPIC and Ex-Im Bank loans and guarantees. They would like to be able
to have expedited processing for repeat customers doing similar projects in the same
markets. Finally, they would like to see agencies follow a more systematic and
transparent approach to meeting additionality requirements which prevent them
from competing with the private sector.
Recommendations
Streamlined processing times at Ex-Im Bank and OPIC: Building on current initiatives
to utilize automation to enhance standard case processing, Ex-Im Bank and OPIC
will continue to streamline internal processes (consistent with agency mandates) by
studying relevant successful practices of export credit agencies and private sector
financial institutions.
Ex-Im Bank Insurance Automation Project: Ex-Im Bank is working to expand and
broaden access to the Bank’s export credit insurance services through use of an
electronic medium. The goal is to overcome long-existent constraints on the
marketing and distribution side of the business. This project could completely
transform the insurance process by providing a framework for a transition from
individual transaction underwriting to a portfolio management approach to shortand
medium-term business. The project entails the use of: simplified Web site
applications and electronic application filing and processing; credit scoring models
and automated decision making systems; electronic reporting and information
sourcing; a flexible multi-function exposure system; and a portfolio risk analysis
system.
Expedited service for repeat customers: Expedited service could attract users to
Ex-Im Bank and OPIC programs. Exporters and investors of all sizes consider
processing times critical to their competitiveness. Ex-Im Bank will continue to build
on its common knowledge databases when evaluating bank transactions. Over time,
staff will become well-versed in the corporate profiles of repeat borrowers. As a
result, the Bank will be better able to process these transactions expeditiously.
Ex-Im Bank transparent approach to additionality: Ex-Im Bank will develop and
implement a transparent approach for evaluating the additionality of transactions, in
close consultation with OMB and the export community, to provide users more
predictability and certainty and faster turnaround times, without competing with the
private sector.
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