“Critics of EXIM employ a host of defamatory slurs like “crony capitalism” and “Bank of Boeing.” The “Bank of Boeing” moniker is particularly misleading, as it was born in the wake of the 2008 financial crisis when the airline industry was particularly hard hit and private-sector financing was not available for many airlines looking to purchase Boeing aircraft. EXIM’s portfolio tends to be cyclical with different industries relying on export credit financing at different points in time, depending on economic conditions.”
Citation: Project 2025, Section 4.3: Export-Import Bank, Jennifer Hazelton, page 758, paragraph 5
Context:
This requires a little context to fully understand.
During economic downturns, such as the 2008 financial crisis, private-sector financing became scarce. In these periods, Ex-Im played a crucial role in supporting Boeing and other industries when commercial banks were unwilling or unable to provide financing for large transactions, such as purchasing aircraft. This situation contributed to Boeing’s large share of Ex-Im support at the time, which critics have latched onto (this was largely Ex-Im helping to secure the sales of Boeing aircraft to foreign airlines.) Ex-Im only steps in when private lenders cannot or will not provide funding (which is why it’s considered risky.)
Full contextual analysis of Section 4.3: Export-Import Bank here.
Section: Section 4.3: Export-Import Bank