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https://www.nei.org/news/2019/congress-national-security-nuclear-...

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    https://www.nei.org/news/2019/congress-national-security-nuclear-exports

    It’s the holiday season and Congress gave nuclear energy several presents this year with the passing of 2019 appropriations bills. The gift I’m most excited about has a tag addressed to the nuclear industry and the United States as a whole. It’s going to help us compete in the global marketplace and boost our national security.
    Nuclear energy companies that export their technology abroad just achieved a major win with the reauthorization of the Export Import Bank of the United States (Ex-Im Bank) for seven years. Congress approved the authorization as part of the Further Consolidated Appropriations Act of 2020 (HR 1865).
    Ex-Im Bank is Vital for U.S Nuclear Exporters

    As the official export credit agency of the United States, Ex-Im Bank provides loans, loan guarantees and other forms of financial assistance to the foreign customers of U.S. exporters to facilitate the sale of American goods and services. Basically, it helps finance large export projects, making U.S. exporters more attractive to customers outside the country by making the investment less risky.
    Currently, more than 95 percent of the world’s nuclear construction projects are being built outside of the United States. To compete, U.S. suppliers must be able to offer competitive financing to potential customers. In international nuclear energy markets, a competitive export credit agency is a requirement to bid on virtually every project.
    With a fully functioning Ex-Im Bank, U.S. nuclear exporters can better compete against state-owned and state-supported rivals such as Russia and China, which have used favorable export financing to achieve dominance in the global nuclear energy market.
    Long-Term Assurance Was a Long Time Coming

    The seven-year reauthorization is a welcome departure from the series of short-term authorizations since 2012. During this period, international competitors stoked concerns of customers that the Ex-Im Bank would not be available when it is needed. U.S. nuclear suppliers, pursuing long-term projects, have been particularly vulnerable to perceptions that the Bank’s future was in doubt.
    The reauthorization provides further assurance by enabling the Bank to function fully if it loses a quorum on its board of directors. Between 2015 and 2019, the Bank didn’t have a full board, so it couldn’t convene a quorum of directors. This prevented it from approving transactions valued at over $10 million, all but shutting it down for nuclear exports.
    When We Compete, Our National Security Wins

    By assuring Ex-Im Bank’s full functionality for the long term, Congress has advanced U.S. security and U.S. economic interests at the same time. As 38 national security experts told Congress last month, Ex-Im Bank has a “vital role in advancing the national security and foreign policy interests of the United States,” particularly in strategically important industrial sectors such as nuclear energy.
    “In the nuclear energy sector,” the experts said, “the initial supply of a reactor typically leads to the supplier’s involvement throughout the hundred-year life of the nuclear program, enabling long-term influence on nuclear safety, security and nonproliferation, as well as the ability to advance energy security and broader foreign policy interests.”
    Reauthorization of Ex-Im Bank alone will not level the playing field for U.S. exporters against Russia and China. But it narrows considerably one of their greatest competitive advantages.
    Reauthorizing Ex-Im Bank Gets Us Closer to Renewed Global Leadership

    Global demand for nuclear energy can either mean multibillion-dollar growth for the U.S. and direct influence over nonproliferation and nuclear safety—or it can mean obsolescence. If we can engage, we get to choose.
    The long-term reauthorization of Ex-Im Bank is giant leap in the right direction.
    Last edited by moosey: 01/01/20
 
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