(A) Section 2(b)(1)(E) of such Act (12 
U.S.C. 635(b)(1)(E)), as amended by sub-
section (a)(2) of this section, is amended—
(i) in clause (i)(II), by striking ‘‘gives 
fair consideration to making loans and pro-
viding’’ and inserting ‘‘make loans and 
provide’’; 
(ii) by striking clause (iii); 
(iii) in clause (iv), by striking ‘‘clauses 
(ii) and (iii) of this subparagraph’’ and in-
serting ‘‘clause (ii)’’; 
(iv) in clause (vi)—
(I) by striking ‘‘clause (v) of this 
subparagraph’’ and insert ‘‘clause 
(iv)’’; and 
(II) by striking ‘‘clause (vi)’’ and 
inserting ‘‘clause’’; 
(v) in clause (vii)—
(I) in subclause (I), by striking 
‘‘(v)’’ and inserting ‘‘(iv)’’; and 
(II) in each of subclauses (II), 
(III), and (IV), by striking ‘‘clause 
(vii)’’ and inserting ‘‘clause’’; and
(vi) by redesignating clauses (iv) 
through (x) as clauses (iii) through (ix), 
respectively. 
(B) Section 8 of such Act (12 U.S.C. 
635g) is amended—
(i) in subsection (b)(2)(B), by striking 
‘‘2(b)(1)(E)(vii)’’ 
and 
inserting 
‘‘2(b)(1)(E)(vi)’’; and 
(ii) in subsection (c), by striking 
‘‘(E)(x)’’ and inserting ‘‘(E)(ix)’’. 
(2) UNIFORM MEANING OF SMALL BUSINESS.—
Section 
2(b)(1)(E) 
of 
such 
Act 
(12 
U.S.C. 
635(b)(1)(E)), as amended by subsection (a)(2) of 
this section and paragraph (1) of this subsection, is 
amended—
(A) in clause (i)(II), by striking ‘‘busi-
nesses’’ and inserting ‘‘business concerns’’; 
(B) in clause (iv), by striking ‘‘(as defined 
under section 3 of the Small Business Act)’’; 
(C) in each of clauses (v), (vi) and (vii), by 
striking ‘‘small business exports’’ each place it 
appears and inserting ‘‘exports by small busi-
ness concerns’’; and 
(D) by adding at the end the following:
‘‘(x) In this subparagraph, the term ‘small business 
concern’ shall have the meaning established under section 
3(a) of the Small Business Act.’’. 
(e) ENHANCE DELEGATED LOAN AUTHORITY FOR 
MEDIUM TERM TRANSACTIONS.—
(1) IN GENERAL.—The Export-Import Bank of 
the United States shall seek to expand the exercise 
of authority under section 2(b)(1)(E)(vi) of the Ex-
port-Import Bank Act of 1945 (as so redesignated 
by subsection (d)(1)(A)(vi) of this section) with re-
spect to medium term transactions for small busi-
ness concerns (as defined under section 3(a) of the 
Small Business Act). 
(2) 
CONFORMING
AMENDMENT.—Section 
2(b)(1)(E)(vi)(III) of the Export-Import Bank Act 
of 1945 (12 U.S.C. 635(b)(1)(E)(vi)(III)), as so re-
designated by subsection (d)(1)(A)(vi) of this sec-
tion, is amended by striking ‘‘To the maximum ex-
tent practicable, the’’ and inserting ‘‘The’’. 
(3) DEADLINE.—Within 180 days after the 
date of the enactment of this Act, the Export-Import 
Bank of the United States shall make available lines 
of credit and guarantees to carry out section 
2(b)(1)(E)(vi) of the Export-Import Bank Act of 
1945 (as so redesignated by subsection (d)(1)(A)(vi)
of this section), pursuant to policies and procedures 
established by the Board of Directors of the Export-
Import Bank of the United States. 
SEC. 5. OFFICE OF FINANCING FOR SOCIALLY AND ECO-
NOMICALLY DISADVANTAGED SMALL BUSI-
NESS CONCERNS AND SMALL BUSINESS CON-
CERNS OWNED BY WOMEN. 
(a) IN GENERAL.—Section 3(f) of the Export-Import 
Bank Act of 1945 (12 U.S.C. 635a(f)), as added by sec-
tion 4(a) of this Act, is amended by redesignating para-
graph (5) as paragraph (6) and by inserting after para-
graph (4) the following: 
‘‘(5) OFFICE OF FINANCING FOR SOCIALLY AND 
ECONOMICALLY
DISADVANTAGED
SMALL
BUSINESS 
CONCERNS AND SMALL BUSINESS CONCERNS OWNED 
BY WOMEN.—
‘‘(A) ESTABLISHMENT.—The President of 
the Bank shall establish in the division an office 
whose sole functions shall be to continue and 
enhance the outreach activities of the Bank 
with respect to, and increase the total amount 
of loans, guarantees, and insurance provided by 
the Bank to support exports by, socially and 
economically disadvantaged small business con-
cerns (as defined in section 8(a)(4) of the Small
Business Act) and small business concerns 
owned by women. 
‘‘(B) MANAGEMENT.—The office shall be 
managed by a Bank officer of appropriate rank 
who shall report to the Bank officer designated 
under section 3(f)(2). 
‘‘(C) STAFFING.—To the maximum extent 
practicable, the President of the Bank shall en-
sure that qualified minority and women appli-
cants are considered when filling any position in 
the office.’’. 
(b) FINANCING DIRECTED TOWARD SMALL BUSI-
NESSES OWNED BY MINORITIES OR WOMEN.—Section 
2(b)(1)(E)(iv) of such Act (12 U.S.C. 635(b)(1)(E)(iv)), 
as so redesignated by section 4(d)(1)(A)(vi) of this Act, 
is amended by adding at the end the following: ‘‘From 
the amount made available under the preceding sentence, 
it shall be a goal of the Bank to make available not less 
than 15 percent of the amount to finance exports directly 
by small business concerns referred to in section 
3(f)(5)(A).’’. 
(c) REPORT
ON FINANCING DIRECTED TOWARD 
SMALL
BUSINESSES
OWNED
BY
MINORITIES
OR 
WOMEN.—Section 8(g)(1) of such Act (12 U.S.C. 
635g(g)(1)), as added by section 4(c) of this Act, is
amended by inserting ‘‘and to finance exports by small 
business concerns referred to in section 3(f)(5)(A),’’ before 
‘‘and, to the extent’’. 
(d) REPORT ON BANK EFFORTS TO SUPPORT EX-
PORTS
BY SOCIALLY
AND ECONOMICALLY DISADVAN-
TAGED SMALL BUSINESS CONCERNS AND SMALL BUSI-
NESS CONCERNS OWNED BY WOMEN.—Section 8 of such 
Act (12 U.S.C. 635g), as amended by section 4 of this 
Act, is amended by adding at the end the following: 
‘‘(h) REPORT ON EFFORTS TO SUPPORT EXPORTS BY 
SMALL- AND MEDIUM-SIZED BUSINESSES OWNED
BY 
WOMEN OR MINORITIES.—Not later than March 1 of each 
year, the Director appointed under section 3(c)(8)(B) of 
this Act shall prepare and submit to the Committee on 
Financial Services of the House of Representatives and 
the Committee on Banking, Housing, and Urban Affairs 
of the Senate, and the Bank shall include in a separate 
section of the annual report submitted pursuant to sub-
section (a) of this section, a written report that describes 
the progress made by the Bank in supporting exports by 
socially and economically disadvantaged small business 
concerns (as defined in section 8(a)(4) of the Small Busi-
ness Act) and small business concerns owned by women.’’.
SEC. 6. SUB-SAHARAN AFRICA. 
(a) EXTENSION OF ADVISORY COMMITTEE.—Section 
2(b)(9)(B)(iii) of the Export-Import Bank Act of 1945 
(12 U.S.C. 635(b)(9)(B)(iii)) is amended by striking 
‘‘2006’’ and inserting ‘‘2011’’. 
(b) IMPROVED LIAISON WITH AFRICAN REGIONAL 
FINANCIAL INSTITUTIONS.—
(1) MASTER GUARANTEE AGREEMENTS.—With-
in 1 year after the date of the enactment of this Act, 
the Export-Import Bank of the United States shall 
seek to ensure that there is in effect a contract be-
tween each approved lender in Africa and the Bank, 
which sets forth the Bank’s guarantee undertakings 
and related obligations between the Bank and the 
lender. 
(2) REPORT
ON
WORKING
RELATIONSHIPS 
WITH THE AFRICAN DEVELOPMENT BANK, THE AF-
RICA EXPORT-IMPORT BANK, AND OTHER INSTITU-
TIONS.—Section 2(b)(9) of such Act (12 U.S.C. 
635(b)(9)) is amended by adding at the end the fol-
lowing: 
‘‘(C) The Bank shall include in the annual report to 
the Congress submitted under section 8(a) a separate sec-
tion that contains a report on the efforts of the Bank to 
improve working relationships with the African Develop-
ment Bank, the Africa Export-Import Bank, and other in-
stitutions in the region that are relevant to the purposes 
of subparagraph (A) of this paragraph.’’. 
(c) CLOSER COOPERATION WITH OTHER UNITED 
STATES
AGENCIES
WORKING
IN
AFRICA.—Section 
2(b)(9) of such Act (12 U.S.C. 635(b)(9)) is further 
amended by adding at the end the following: 
‘‘(D) The Bank shall closely coordinate with the 
United States Foreign Commercial Service and with the 
overall strategy of the United States Government, for eco-
nomic engagement with Africa pursuant to the African 
Growth and Opportunity Act. 
‘‘(E) The Bank shall develop initiatives to train For-
eign Service and Commercial Service officers serving at 
United State embassies in Africa, in the use of Bank pro-
grams, so the officers can encourage African buyers to 
take part in transactions supported by the Bank.’’. 
(d) ADJUSTMENTS TO PROCEDURES TO PROMOTE 
QUALIFICATION OF AFRICAN ENTITIES.—Section 2(b)(9) 
of such Act (12 U.S.C. 635(b)(9)) is further amended by 
adding at the end the following: 
‘‘(F) Consistent with the requirement that the Bank 
obtain a reasonable assurance of repayment in connection 
with each transaction the Bank supports, the Bank shall, 
in consultation with the entities described in subparagraph 
(C), seek greater flexibility in the due-diligence procedures
of the Bank for the purpose of qualifying a greater num-
ber of appropriate African entities for participation in pro-
grams of the Bank.’’. 
(e) LOCAL CURRENCY FINANCING.—Section 2(b)(9) 
of such Act (12 U.S.C. 635(b)(9)) is further amended by 
adding at the end the following: 
‘‘(G) The Bank shall develop procedures under which 
the Bank is capable of financing certain African programs 
in local currencies.’’. 
SEC. 7. EXTENSION OF AUTHORITY. 
Section 1(c) of Public Law 103–428 (12 U.S.C. 635 
note) is amended by striking ‘‘2001’’ and inserting 
‘‘2011’’. 
SEC. 8. TRANSPARENCY INITIATIVES. 
(a) FREQUENCY OF MEETINGS.—Section 3(c) of the 
Export-Import Bank Act of 1945 (12 U.S.C. 635a(c)) is 
amended by adding at the end the following: 
‘‘(9) The Board of Directors shall meet not less fre-
quently than biweekly. 
‘‘(10) At the request of any 2 members of the Board 
of Directors, the Chairman shall place an item on the 
agenda for consideration by the Board. Within 30 days 
after the date such a request is made, the Chairman shall 
hold a meeting of the Board at which the item will be 
considered.’’.
(b) VOTING REQUIRED IN CASES INVOLVING ECO-
NOMIC IMPACT ANALYSIS.—Section 2(e) of such Act (12 
U.S.C. 635(e)) is amended by adding at the end the fol-
lowing: 
‘‘(5) BOARD VOTE REQUIRED.—Within 60 days 
after completing a review, pursuant to this sub-
section, of a proposed loan or guarantee (including 
any applicable comment period), the Board of Direc-
tors shall hold a vote to determine whether or not 
to proceed with the proposed loan or guarantee, un-
less the applicant has withdrawn the application for 
the loan or guarantee.’’. 
(c) PROCESS FOR NOTIFYING APPLICANTS OF APPLI-
CATION STATUS.—Section 2 of such Act (12 U.S.C. 635) 
is amended by adding at the end the following: 
‘‘(g) PROCESS FOR NOTIFYING APPLICANTS OF AP-
PLICATION STATUS.—The Bank shall establish and ad-
here to a clearly defined process for—
‘‘(1) acknowledging receipt of applications; 
‘‘(2) informing applicants that their applica-
tions are complete or, if incomplete or containing a 
minor defect, of the additional material or changes 
that, if supplied or made, would make the applica-
tion eligible for consideration; and
‘‘(3) keeping applicants informed of the status 
of their applications, including a clear and timely no-
tification of approval or disapproval, and, in the case 
of disapproval, the reason for disapproval, as appro-
priate.’’. 
(d) RESPONSE TO APPLICATION FOR FINANCING; IM-
PLEMENTATION OF ONLINE LOAN REQUEST AND TRACK-
ING PROCESS.—Section 2 of such Act (12 U.S.C. 635) 
is further amended by adding at the end the following: 
‘‘(h) RESPONSE TO APPLICATION FOR FINANCING; 
IMPLEMENTATION
OF
ONLINE
LOAN
REQUEST
AND 
TRACKING PROCESS.—Within 5 days after receipt of an 
application for financing from the Bank, the Bank shall 
notify the applicant that the application has been received, 
and shall include in the notice a request for such addi-
tional information as may be necessary to make the appli-
cation complete, the name of a Bank employee who may 
be contacted with questions relating to the application, 
and a unique identification number which may be used 
to review the status of the application at a website estab-
lished as provided in the next sentence. Not later than 
September 1, 2006, the Bank shall use the authorities 
provided by subparagraphs (E)(ix) and (J) of subsection 
(b)(1) of this section to establish, and thereafter to main-
tain, a website through which any Bank product may be
applied for, information may be obtained about the status 
of any such application, about the small business division 
of the Bank, or about incentives, preferences, targets, and 
goals relating to small business concerns referred to in sec-
tion 3(f)(5)(A) or small business concerns exporting to Af-
rica.’’. 
(e) REPORTS RELATING TO TECHNOLOGY TO ASSIST 
SMALL BUSINESSES.—
(1) REPORTS BY THE BANK.—
(A) INITIAL
REPORT.—Within 60 days 
after the date of the enactment of this Act, the 
President of the Export-Import Bank of the 
United States shall submit to the Committee on 
Financial Services of the House of Representa-
tives and the Committee on Banking, Housing, 
and Urban Affairs of the Senate a report on—
(i) the efforts made by the Bank to 
carry out subparagraphs (E)(ix) and (J) of 
section 2(b)(1) of the Export-Import Bank 
Act of 1945, including the total amount 
expended by the Bank to do so; and 
(ii) if the Bank has been unable to 
comply with such subparagraphs—
(I) an analysis of the reasons 
therefor;
(II) what the Bank is doing to 
achieve, and the date by which the 
Banks expects to have achieved, such 
compliance; and 
(III) the name of each Bank offi-
cer who is responsible for ensuring 
that the Bank achieves, and the name 
of the person to whom the Bank offi-
cer reports on progress in achieving, 
such compliance. 
(B) SUBSEQUENT
ANNUAL
REPORTS.—
Section 8(c) of the Export-Import Bank Act of 
1945 (12 U.S.C. 635g(c)), as amended by sec-
tion 4(d)(1)(B)(ii) of this Act, is amended to 
read as follows: 
‘‘(c) TECHNOLOGY TO ASSIST SMALL BUSINESSES.—
The Bank shall include in its annual report to the Con-
gress under subsection (a) of this section for each of fiscal 
years 2007 through 2011 a separate section that con-
tains—
‘‘(1) a report on the efforts made by the Bank 
to carry out subparagraphs (E)(ix) and (J) of sec-
tion 2(b)(1) of this Act, the total amount expended 
in the fiscal year to do so, and how the efforts are
assisting small business concerns (as defined under 
section 3(a) of the Small Business Act); and 
‘‘(2) if the Bank has been unable to comply 
fully with such subparagraphs—
‘‘(A) an analysis of the reasons therefor; 
‘‘(B) a description of what the Bank is 
doing to achieve, and the date by which the 
Banks expects to have achieved, such full com-
pliance; and 
‘‘(C) the name of each Bank officer who is 
responsible for ensuring that the Bank achieves, 
and the name of the person to whom the Bank 
officer reports on progress in achieving, such 
full compliance.’’. 
(2) REPORT BY THE INSPECTOR GENERAL OF 
THE BANK.—Within 120 days after the date of the 
enactment of this Act or, if later, within 30 days 
after the date the vacancy in the position of the In-
spector General of the Export-Import Bank of the 
United States is filled, the Inspector General of the 
Export-Import Bank of the United States shall sub-
mit to the Committee on Financial Services of the 
House of Representatives and the Committee on 
Banking, Housing, and Urban Affairs of the Sen-
ate—
(A) a report on the efforts made by the 
Bank to carry out subparagraphs (E)(ix) and 
(J) of section 2(b)(1) of the Export-Import 
Bank Act of 1945, the total amount expended 
to do so, and how the efforts are assisting small 
business concerns (as defined under section 
3(a) of the Small Business Act); and 
(B) if the Bank has been unable to comply 
with such subparagraphs—
(i) an analysis of the reasons therefor; 
(ii) a description of what the Bank is 
doing to achieve, and the date by which the 
Banks expects to have achieved, such com-
pliance; and 
(iii) the name of each Bank officer 
who is responsible for ensuring that the 
Bank achieves, and the name of the person 
to whom the Bank officer reports on 
progress in achieving, such compliance. 
(f) PUBLIC
DISCLOSURE
OF
CERTAIN
DOCU-
MENTS.—Section 11(a)(1) of the Export-Import Bank of 
1945 (12 U.S.C. 635i-5(a)(1)) is amended by inserting 
after the first sentence the following: ‘‘Such procedures 
shall provide for the public disclosure of environmental as-
sessments and supplemental environmental reports re-
quired to be submitted to the Bank, including remediation 
or mitigation plans and procedures, and related moni-
toring reports. The preceding sentence shall not be inter-
preted to require the public disclosure of any information 
described in section 1905 of title 18, United States 
Code.’’. 
SEC. 9. EFFECT OF THE BANK ON THE BUDGET OF THE 
UNITED STATES. 
Within 90 days after the date of the enactment of 
this Act, the Export-Import Bank of the United States 
shall submit to the appropriate committees of the Con-
gress a report on the revenues, expenditures, and resulting 
annual net income or expense to the United States for 
each of the 10 years most recently completed before the 
date of the report. 
SEC. 10. COMPETITIVENESS INITIATIVES. 
(a) EXPANSION OF SCOPE OF ANNUAL COMPETI-
TIVENESS REPORT.—
(1) CONSOLIDATION AND REORGANIZATION OF 
PROVISIONS.—The Export-Import Bank Act of 1945 
(12 U.S.C. 635–635i-9) is amended by inserting 
after section 8 the following:
‘‘SEC. 8A. ANNUAL COMPETITIVENESS REPORT. 
‘‘(a) IN GENERAL.—Not later than June 30 of each 
year, the Bank shall submit to the appropriate committees 
of the Congress a report that includes the following: 
‘‘(1) ACTIONS OF BANK IN PROVIDING FINANC-
ING ON A COMPETITIVE BASIS, AND TO MINIMIZE 
COMPETITION IN GOVERNMENT-SUPPORTED EXPORT 
FINANCING.—A description of the actions of the 
Bank in complying with the 2nd and 3rd sentences 
of section 2(b)(1)(A). In this part of the report, the 
Bank shall include a survey of all other major ex-
port-financing facilities available from other govern-
ments and government-related agencies through 
which foreign exporters compete with United States 
exporters (including through use of market windows 
(as defined in section 10(h)(7)) and indicate in spe-
cific terms the ways in which the Bank’s rates, 
terms, and other conditions compare with those of-
fered from such other governments directly or indi-
rectly. With respect to the preceding sentence, the 
Bank shall use all available information to estimate 
the annual amount of export financing available 
from each such government and government-related 
agency. In this part of the report, the Bank shall in-
clude a survey of a representative number of United 
States exporters and United States commercial lend-
ing institutions which provide export credit to deter-
mine the experience of the exporters and institutions 
in meeting financial competition from other coun-
tries whose exporters compete with United States ex-
porters. 
‘‘(2) ROLE OF BANK IN IMPLEMENTING STRA-
TEGIC PLAN PREPARED BY THE TRADE PROMOTION 
COORDINATING COMMITTEE.—A description of the 
role of the Bank in implementing the strategic plan 
prepared by the Trade Promotion Coordinating 
Committee in accordance with section 2312 of the 
Export Enhancement Act of 1988. 
‘‘(3) TIED AID CREDIT PROGRAM AND FUND.—
The report required by section 10(g). 
‘‘(4) PURPOSE OF ALL BANK TRANSACTIONS.—
A description of all Bank transactions which shall be 
classified according to their principal purpose, such 
as to correct a market failure or to provide matching 
support. 
‘‘(5) EFFORTS OF BANK TO PROMOTE EXPORT 
OF GOODS AND SERVICES RELATED TO RENEWABLE 
ENERGY SOURCES.—A description of the efforts un-
dertaken under section 2(b)(1)(K). 
‘‘(6) SIZE
OF
BANK
PROGRAM
ACCOUNT.—A 
separate section which—