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Nuclear Energy Institute
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NEI Welcomes Senate Passage Of Export Import Bank Reauthorization

WASHINGTON, D.C.—The Nuclear Energy Institute’s Richard Myers, vice president for policy development, planning and supplier programs, made the following remarks in reaction to the U.S. Senate’s approval today of the Export-Import Bank Reauthorization Act of 2012, which reauthorizes the Export-Import Bank of the United States. Passed last week by the U.S. House of Representatives, the legislation is expected to be signed by President Obama. It will reauthorize the Ex-Im Bank for three years with a lending authority of $140 billion.

“The nuclear energy industry applauds the Senate’s approval of this important legislation. Absolutely critical for U.S.-based suppliers of commercial reactors and components, the Ex-Im Bank enhances the position of U.S. suppliers competing for international business by offsetting the advantage provided by other countries’ export credit agencies.

“Over the next decade, the global nuclear energy market could be worth up to $740 billion, according to the Department of Commerce. By capturing a share of this growing market, the United States can extend its influence over nonproliferation policy and nuclear plant safety. The industry also has the opportunity to create tens of thousands of well-paying jobs that are so greatly needed at this time. The Senate’s reauthorization of the Ex-Im Bank will yield positive policy and economic impacts for many years to come.”