NATION
William H. Draper III announced his resignation as president of the U.S. government’s Export-Import Bank, which helps U.S. business sell its goods in other countries.
Draper, 58, told reporters that he will leave Feb. 28 and take up a new job May 1 as head of the United Nations development program in New York. That program makes grants amounting to about $1 billion a year to poor countries to help raise their standard of living.
“The twin goals I set for the bank--of stronger support for American exporters and a significant reduction in the subsidies involved--have been achieved,” Draper wrote in his letter of resignation to President Reagan.
A successor is expected to be named next week, Draper said. He said that his candidate was his deputy, John A. Bohn Jr.
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