(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 add-
ing 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 number 
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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 add-
ing 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 agen-
da 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 consid-
ered.’’. 
(b) VOTING REQUIRED
IN CASES INVOLVING ECO-
NOMIC IMPACT ANALYSIS.—Section 2(e) of such Act (12 
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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 subsection, 
of a proposed loan or guarantee (including any appli-
cable comment period), the Board of Directors shall 
hold a vote to determine whether or not to proceed 
with the proposed loan or guarantee, unless the appli-
cant 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 APPLI-
CATION STATUS.—The Bank shall establish and adhere 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 application 
eligible for consideration; and 
‘‘(3) keeping applicants informed of the status of 
their applications, including a clear and timely noti-
fication of approval or disapproval, and, in the case 
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of disapproval, the reason for disapproval, as appro-
priate.’’. 
(d) RESPONSE TO APPLICATION FOR FINANCING; IM-
PLEMENTATION OF ONLINE LOAN REQUEST AND TRACKING 
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; IM-
PLEMENTATION 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 ap-
plicant that the application has been received, and shall 
include in the notice a request for such additional informa-
tion as may be necessary to make the application complete, 
the name of a Bank employee who may be contacted with 
questions relating to the application, and a unique identi-
fication number which may be used to review the status 
of the application at a website established 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 estab-
lish, and thereafter to maintain, 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 
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concerns referred to in section 3(f)(4)(A) or small business 
concerns exporting to Africa.’’. 
(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 Presi-
dent of the Export-Import Bank of the United 
States shall submit to the Committee on Finan-
cial Services of the House of Representatives 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 ex-
pended 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 
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(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 officer re-
ports on progress in achieving, such 
compliance. 
(B) SUBSEQUENT ANNUAL REPORTS.—Sec-
tion 8(c) of the Export-Import Bank Act of 1945 
(12 U.S.C. 635g(c)), as amended by section 
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 Congress 
under subsection (a) of this section for each of fiscal years 
2007 through 2011 a separate section that contains— 
‘‘(1) a report on the efforts made by the Bank to 
carry out subparagraphs (E)(ix) and (J) of section 
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; 
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‘‘(B) a description of what the Bank is 
doing to achieve, and the date by which the 
Banks expects to have achieved, such full compli-
ance; 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 en-
actment of this Act or, if later, within 30 days after 
the date the vacancy in the position of the Inspector 
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 submit to the 
Committee on Financial Services of the House of Rep-
resentatives and the Committee on Banking, Housing, 
and Urban Affairs of the Senate— 
(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 
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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 DOCUMENTS.— 
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 assessments and sup-
plemental environmental reports required to be submitted 
to the Bank, including remediation or mitigation plans and 
procedures, and related monitoring reports. The preceding 
sentence shall not be interpreted to require the public disclo-
sure of any information described in section 1905 of title 
18, United States Code.’’. 
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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 sub-
mit to the appropriate committees of the Congress a report 
on the revenues, expenditures, and resulting annual net in-
come 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 COMPETITIVE-
NESS 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 FINANCING 
ON A COMPETITIVE BASIS, AND TO MINIMIZE COM-
PETITION
IN
GOVERNMENT-SUPPORTED
EXPORT
FI-
NANCING.—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 export-financing 
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facilities available from other governments and gov-
ernment-related agencies through which foreign ex-
porters compete with United States exporters (includ-
ing through use of market windows (as defined in sec-
tion 10(h)(7)) and indicate in specific terms the ways 
in which the Bank’s rates, terms, and other conditions 
compare with those offered from such other govern-
ments directly or indirectly. With respect to the pre-
ceding sentence, the Bank shall use all available infor-
mation to estimate the annual amount of export fi-
nancing available from each such government and 
government-related agency. In this part of the report, 
the Bank shall include a survey of a representative 
number of United States exporters and United States 
commercial lending institutions which provide export 
credit to determine the experience of the exporters and 
institutions in meeting financial competition from 
other countries whose exporters compete with United 
States exporters. 
‘‘(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 pre-
pared by the Trade Promotion Coordinating Com-
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mittee 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 EN-
ERGY SOURCES.—A description of the efforts under-
taken under section 2(b)(1)(K). 
‘‘(6) SIZE OF BANK PROGRAM ACCOUNT.—A sep-
arate section which— 
‘‘(A) compares the size of the Bank program 
account with the size of the program accounts of 
the other major export-financing facilities re-
ferred to in paragraph (1); and 
‘‘(B) makes recommendations with respect 
to the relative size of the Bank program account, 
based on factors including whether the size dif-
ferences are in the best interests of the United 
States taxpayer. 
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‘‘(7) CO-FINANCING
PROGRAMS
OF
THE
BANK 
AND OF OTHER EXPORT CREDIT AGENCIES.—A sepa-
rate section which describes the co-financing programs 
of the Bank and of the other major export-financing 
facilities referred to in paragraph (1), which shall in-
clude a list of which countries with which the United 
States has in effect a memorandum of understanding 
relating to export credit agency co-financing and an 
explanation of why such a memorandum is not in ef-
fect with the countries with which such a memo-
randum is not in effect. 
‘‘(8) AFTER-MARKET SERVICES SUPPORT BY THE 
BANK AND BY OTHER EXPORT CREDIT AGENCIES.—A 
separate section which describes the participation of 
the Bank in providing funding, guarantees, or insur-
ance for after-market services, which shall include ap-
propriate information on the involvement of the other 
major export-financing facilities referred to in para-
graph (1) in providing such support for after-market 
services, and an explanation of any differences among 
the facilities in providing the support. 
‘‘(9) EXPORT FINANCE CASES NOT IN COMPLI-
ANCE WITH THE ARRANGEMENT.—Detailed informa-
tion on cases of export finance that are not in compli-
ance with the Arrangement (as defined in section 
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10(h)(3)) or that exploit loopholes in the Arrangement 
for the purpose of obtaining a commercial competitive 
advantage. 
‘‘(10) FOREIGN EXPORT CREDIT AGENCY ACTIVI-
TIES NOT CONSISTENT WITH THE WTO AGREEMENT 
ON SUBSIDIES AND COUNTERVAILING MEASURES.—A 
description of the extent to which the activities of for-
eign export credit agencies and other entities spon-
sored by a foreign government, particularly those that 
are not members of the Arrangement (as defined in 
section 10(h)(3)), are not in compliance with the Ar-
rangement and may not be consistent with the terms 
of the Agreement on Subsidies and Countervailing 
Measures referred to in section 101(d)(12) of the Uru-
guay Round Agreements Act (19 U.S.C. 3511(d)(12)), 
and a description of the actions taken by the United 
States Government to address the activities. 
‘‘(b) BOARD
VOTE
ON
REPORT
REQUIRED.—The 
Board of Directors shall vote to approve and shall sign each 
report required by subsection (a). 
‘‘(c) INCLUSION OF DISSENTING VIEWS, ETC.—Each 
report required by subsection (a) shall include such dis-
senting views and additional comments as any member of 
the Board of Directors may submit to the Board for inclu-
sion in the report.’’. 
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(2) 
CONFORMING
AMENDMENT.—Section 
2(b)(1)(A) of such Act (12 U.S.C. 635(b)(1)(A)) is 
amended by striking all that follows the 3rd sentence. 
(b) REPORT ON INVOLVEMENT OF THE BANK AND OF 
OTHER EXPORT CREDIT AGENCIES IN REGIONAL MULTI- 
BUYER INSURANCE PROGRAMS
AND WORKING-CAPITAL 
GUARANTEE PROGRAMS.—Section 8 of such Act (12 U.S.C. 
635g), as amended by sections 4 and 5 of this Act, is amend-
ed by adding at the end the following: 
‘‘(i) REPORT ON INVOLVEMENT OF THE BANK AND OF 
OTHER EXPORT CREDIT AGENCIES IN REGIONAL MULTI- 
BUYER INSURANCE PROGRAMS
AND WORKING-CAPITAL 
GUARANTEE PROGRAMS.—The Bank shall include in its 
annual report to the Congress under subsection (a) of this 
section a separate section that contains a report on— 
‘‘(1) regional multi-buyer insurance programs 
and working capital guarantee programs operated by, 
through, or in conjunction with the Bank, which shall 
include an analysis of the effectiveness of the pro-
grams and of how effective the programs would be in 
increasing export-related jobs in the United States if 
the programs were larger; 
‘‘(2) the size of similar programs of all other 
major export-financing facilities available from other 
governments and government-related agencies through 
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which foreign exporters compete with United States 
exporters (including through use of market windows 
(as defined in section 10(h)(7)); and 
‘‘(3) as a detailed explanation, with respect to 
the programs, of the working relationship between the 
Bank and the Small Business Administration, the 
Department of Commerce, and other United States 
Government agencies concerned with increasing the 
number of export-related jobs in the United States.’’. 
(c) CLARIFICATION OF USE OF TIED AID CREDIT 
FUND TO MATCH.—Section 10 of the Export-Import Bank 
Act of 1945 (12 U.S.C. 635i–3) is amended— 
(1) in subsection (a)— 
(A) in paragraph (5)— 
(i) in the matter preceding subpara-
graph (A), by striking ‘‘two’’ and inserting 
‘‘3’’; 
(ii) in subparagraph (A)(iv), by strik-
ing ‘‘and’’; and 
(iii) by adding at the end the fol-
lowing: 
‘‘(C) third, the Bank should support United 
States exporters when the exporters face foreign 
competition that is supported by foreign export 
credit agencies or other entities sponsored by a 
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