WASHINGTON, DC —Today, the U.S. Senate confirmed three nominees for the Export-Import (Ex-Im) Bank board of directors, returning the Ex-Im Bank to a full quorum for the first time since 2015. Without a quorum, the board of directors cannot consider medium- and long-term transactions exceeding $10 million.
The following statement can be attributed to Maria Korsnick, president and chief executive officer of the Nuclear Energy Institute:
“We are grateful to the Administration for nominating and the U.S. Senate for confirming the nominees to the board of the Ex-Im Bank. A fully functioning Ex-Im Bank is critical for U.S. nuclear exports and American jobs. Since the Ex-Im Bank had lacked a quorum since 2015, U.S. nuclear companies have been at a commercial disadvantage against international competitors.
“The Ex-Im Bank plays a critical role in helping strategic American industries vie against state-owned international players. The action today is necessary for the U.S. nuclear energy industry to compete with Russia and China, which aggressively exploit export finance to advance their strategic interests.
“NEI has long supported a strong Ex-Im Bank, and we look forward to working with Congress for the timely reauthorization of this important agency before its charter expires in September.”
