US fears losing out in Ex-Im Bank shakeup

1 August 2014

American nuclear power companies' ability to compete internationally will be harmed if financing from the Export-Import Bank ceases, say industry leaders. The charter of the US's official export credit agency expires on 30 September and Congress may decide against renewing it. This, it was argued, will undermine the nation's ability to keep pace with the state-funded foreign firms with which it competes for global business.
"This is not a partisan issue. This is an American competitiveness issue," said Westinghouse president and CEO Danny Roderick at a meeting organised by the National Association of Manufacturers, in Pittsburgh on 25 July. "From the energy industry perspective, Ex-Im is an absolute necessity."
The US government is seeking a five-year reauthorisation and a gradual increase in the bank's lending cap to $160billion from $140 billion.
The future of Ex-Im Bank will remain unclear until September, when lawmakers return from a five-week recess.

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