June 05, 2002
The amendment requires the Export-Import Bank to increase outreach to women and minority-owned businesses and encourages the Bank to increase the number of loans to minority and women-owned firms. Currently, the Export-Import Bank only provides less than 0.5% of its loans to women and minority-owned businesses.
"Women and minority-owned firms deserve to have access to Export-Import Bank loans so that they can continue to grow their businesses, which contribute so greatly to our economy," said Lee. "Women and minority-owned firms are the fastest-growing in the U.S. At a time when we are seeing our budget surplus shrink and our trade deficit grow, expanding the number of Export-Import Bank loans to women and minority-owned businesses is vital to our global economy."
Congresswoman Lee also expressed concern about the elimination of language in the conference report that would have created the Office on Africa, which would focus on increases Ex-Im Bank activities in Africa and increasing visibility among U.S. Companies of African markets for exports. She also expressed dismay that the conference report excluded provisions in the House passed bill that would have increased loans to small businesses overall.
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House Passes Congresswoman Barbara Lee's Amendment to Support Women and Minority-Owned Businesses
Washington, DC - The House today passed by a vote of 344-78 S. 1372, the conference report for the Export-Import Re-authorization Act, which included an amendment offered Congresswoman Barbara Lee to increase outreach to women and minority-owned businesses.The amendment requires the Export-Import Bank to increase outreach to women and minority-owned businesses and encourages the Bank to increase the number of loans to minority and women-owned firms. Currently, the Export-Import Bank only provides less than 0.5% of its loans to women and minority-owned businesses.
"Women and minority-owned firms deserve to have access to Export-Import Bank loans so that they can continue to grow their businesses, which contribute so greatly to our economy," said Lee. "Women and minority-owned firms are the fastest-growing in the U.S. At a time when we are seeing our budget surplus shrink and our trade deficit grow, expanding the number of Export-Import Bank loans to women and minority-owned businesses is vital to our global economy."
Congresswoman Lee also expressed concern about the elimination of language in the conference report that would have created the Office on Africa, which would focus on increases Ex-Im Bank activities in Africa and increasing visibility among U.S. Companies of African markets for exports. She also expressed dismay that the conference report excluded provisions in the House passed bill that would have increased loans to small businesses overall.
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