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 In a letter sent to Congressional leaders late on Wednesday,
former U.S. Secretary of State Madeleine Albright, former U.S.
Secretary of Defense William Cohen and 10 other senior figures said
exporters helped spread American values and strengthen its interests
overseas and Ex-Im was an important tool to compete and secure
business in overseas markets.
The export credit agency, which provides support to U.S. exporters
and the buyers of U.S. goods, is targeted for closure by some
conservative Republicans who say it usurps the role of the private
sector and provides "welfare" for big business.
"From our prior experience in government, each of us has seen how
commercial and economic diplomacy have become critical elements of
US national security," said the letter, whose signatories include
former Director of National Intelligence John Negroponte and
previous White House chiefs of staff.
 "The involvement of U.S. companies in emerging markets is
fundamentally beneficial to the American economy while helping to
drive growth, prosperity and political stability abroad."
The bank has been criticized for helping to finance purchases from
big companies such as Boeing Co <BA.N> and Caterpillar Inc <CAT.N>,
but supporters contend it also helps many small businesses that
cannot get export insurance from private banks.
The letter said China was expanding its reach in Africa,
particularly through long-term infrastructure projects, and Ex-Im
was a valuable tool to counter competitors.
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"Unilateral disarmament has never been considered a viable defense
policy, and we cannot think of a reason why it should be considered
a rational export policy," the letter said.
Other signatories include former U.S. Deputy Secretary of State
Richard Armitage, former U.S. Commerce secretary Carlos Gutierrez,
and former Assistant to the President for National Security Affairs
Stephen Hadley.
Ex-Im won a temporary extension late last year but without action
from Congress, its charter will expire at the end of June.
Republican lawmaker Stephen Fincher has proposed a five-year
extension that would trim the bank's lending cap but the chairman of
the House committee with jurisdiction over Ex-Im, Republican Jeb
Hensarling is one of the bank's strongest critics and helps
determine which bills come to the floor of Congress.
(Editing by Lisa Shumaker)
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