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Nuclear Energy Institute
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Senate Approves Hochberg to Second Term at Ex-Im Bank

WASHINGTON, D.C.—The U.S. Senate today approved the nomination of Fred Hochberg to a second term as chairman and president of the Export-Import Bank of the United States. Following is a statement from Richard Myers, the Nuclear Energy Institute’s vice president for policy development, planning and supplier programs.

“The nuclear energy industry congratulates Fred Hochberg on his confirmation and applauds the Senate for acting on this nomination. The confirmation of Chairman Hochberg ensures that the Export-Import Bank’s board of directors will retain a quorum, enabling it to continue its important work without interruption.

“Over the past four years, Chairman Hochberg has led the Ex-Im Bank during a time of unprecedented demand for export financing. Ex-Im Bank supported nearly $50 billion of U.S. exports in fiscal 2012, supporting more than 255,000 American jobs. Last year, the bank approved a $2 billion financing package for U.S. content in nuclear energy facilities under construction in the United Arab Emirates. The continued support of the bank will be essential as the U.S. nuclear energy industry looks ahead to new commercial opportunities.

“American nuclear energy suppliers are competing in a highly competitive global market that is estimated at up to $750 billion over the next decade. Reliable access to export financing is vital to U.S. competitiveness.

“Ex-Im Bank is an important, independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. Over the past five years, Ex-Im Bank has earned $1.6 billion for U.S. taxpayers.”