- New Bill Seeks to Boost US Nuclear Civilian Industry Exports Through Ex-Im Bank - Senator
New Bill Seeks To Boost US Nuclear Civilian Industry Exports Through Ex-Im Bank - Senator
Umer Jamshaid 10 days ago Fri 16th August 2019 | 12:01 AM
A proposed new bill would provide $50 billion in support financing for the export of US civilian atomic technology as part of a program to boost the US domestic nuclear industry, Senator Lisa Murkowksi said in a press release on Thursday
"Murkowski today released a discussion draft of the Strategic Energy for America (SEA) Act of 2019," the release said. "The SEA Act would: Enable the new Development Finance Corporation to support civilian nuclear energy projects in developing countries."
The bill says it would establish a strategic energy portfolio at the US Export-Import Bank to promote civil nuclear energy infrastructure projects and natural gas infrastructure projects.
The maximum exposure cap for the strategic energy portfolio of loans, guarantees and insurance the Export-Import Bank has outstanding at any one time "may not exceed $50 billion," the bill says.
According to its mission statement, the Export-Import Bank is charged with filling gaps in trade financing for US exporters of good and services by matching the financing foreign governments provide to their own exporters. Over the past 80 years, it has supported $567 billion worth of US exports.