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Information in: Español - Français - Deutsch - Português - Russian - Japanese - Svenska - Italiano - Suomi
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U.S. agency's authority to finance dual-use exports renewed Congress has approved a legislative provision aimed at ensuring that the U.S. Export-Import Bank can continue to finance exports of dual-use items. The provision is included in a temporary spending measure, or continuing resolution, enacted to keep the government running until Congress passes all 13 appropriations bills for fiscal 2003, the fiscal year that began Oct. 1. The Ex-Im Bank language could find its way into more continuing resolutions. The current resolution expires Oct. 18 and Congress may not finish the FY '03 foreign operations appropriations bill, a potential permanent vehicle for the language, until after the November elections. The provision was inadvertently left out of the bank reauthorization bill enacted earlier this year, a congressional source told The DAILY. The provision is intended to allow the Ex-Im Bank to continue using part of its financing authority to support non-lethal exports that have defense applications but mainly will be used for civilian purposes. The bank has been allowed to support such dual-use exports since 1994. According to the General Accounting Office's most recent report on the subject, the bank financed more than $ 200 million worth of dual-use exports in FY '01, including transport aircraft and support systems to be used for pipeline monitoring in Algeria.
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