U.S. Sen. Elizabeth Warren, ranking member of the Senate Committee on Banking, Housing and Urban Affairs, called for Congress to strengthen safeguards against corruption and conflicts of interest at the Export-Import Bank (EXIM) as lawmakers work to reauthorize its charter. Her statement responded to reports that U.S. government lenders, including EXIM, plan to deny USD 1.6 billion in financing for a Kazakh mining project in which President Donald Trump’s sons are investors.
Warren criticized EXIM’s transparency and argued that its leadership had failed to establish clear safeguards against the bank being used to benefit Trump and his family. In June, she pressed EXIM President and Chairman John Jovanovic for answers about ethics safeguards, including whether entities linked to the Trump family had sought or received financing. In July, she questioned EXIM and other federal agencies over reports that a Kazakhstan mining venture backed by the Trump family was seeking nearly USD 2 billion in federal assistance, including up to USD 900 million from EXIM.