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CROWLEY WORKS WITH SENATE TO APPROVE ARMENIAN EX-IM BANK AMENDMENT
States News Service
September 21, 2006 Thursday
Washington
The following information was released by the Office of New York
Congressman Joseph Crowley:
Congressman Joseph Crowley (D-Queens & the Bronx), Chief Deputy Whip,
today announced that the Senate Banking Committee voted to approve
an amendment that would prohibit the Export-Import Bank from loaning
money to the construction of a railway line sponsored by Turkey and
Azerbaijan that bypasses Armenia. The amendment was submitted by Sen.
Bob Menendez, with whom Rep. Crowley worked closely in ensuring it
was proposed in the key Senate committee.
In June, Rep. Crowley successfully submitted the same amendment in
the House Financial Services Committee, on which he sits, as it was
marking up the House legislation reauthorizing federal funds for the
Export-Import Bank. Because the amendment will now be in both House
and Senate versions of the Ex-Im reauthorizing bills, the likelihood
that it will be included in the final version of the bill after both
chambers conference their versions together has greatly increased.
"With this amendment, the US Congress is telling the governments of
Turkey and Azerbaijan that it is wrong to continue their Cold War
style campaign against Armenia and hurt its economic growth. Their
actions against Armenia will meet with real consequences, and we are
taking note of this inexcusable behavior," Congressman Crowley said.
"By excluding Armenia in these regional projects, Turkey and Azerbaijan
are putting the finishing touches on a 10-year-old economic blockade
against this republic that has made great progress in implementing
democratic and economic reforms."
When implemented, the amendment would prohibit the Export-Import bank
from providing loan guarantees, insurance or extension of credit
in connection with the planning, or development of a cross-country
railway connecting the cities of Kars, Turkey; Tbilisi, Georgia;
and Baku, Azerbaijan, which deliberately avoids Armenia.
In 2005, Turkey, Azerbaijan and Georgia finished construction on the
Baku-Tbilisi-Ceyhan pipeline, which does not pass through Armenia,
despite that being fastest and most economically sound route. For
over the last 10 years, Armenia has been subject to an illegal
blockade of its borders by Azerbaijan and Turkey, severely damaging
its economy. In spite of this blockade, however, Armenia has managed
to make democratic and economic reforms. The Export-Import Bank of
the United States is the official export credit agency of the United
States. Ex-Im Bank's mission is to assist in financing the export of
U.S. goods and services to international markets.
Rep. Crowley stated, "The American taxpayer should not be required to
finance a project that goes against the interests of the US government
in the South Caucasus. The Caucasus region can only move forward when
all neighboring countries move forward together."
States News Service
September 21, 2006 Thursday
Washington
The following information was released by the Office of New York
Congressman Joseph Crowley:
Congressman Joseph Crowley (D-Queens & the Bronx), Chief Deputy Whip,
today announced that the Senate Banking Committee voted to approve
an amendment that would prohibit the Export-Import Bank from loaning
money to the construction of a railway line sponsored by Turkey and
Azerbaijan that bypasses Armenia. The amendment was submitted by Sen.
Bob Menendez, with whom Rep. Crowley worked closely in ensuring it
was proposed in the key Senate committee.
In June, Rep. Crowley successfully submitted the same amendment in
the House Financial Services Committee, on which he sits, as it was
marking up the House legislation reauthorizing federal funds for the
Export-Import Bank. Because the amendment will now be in both House
and Senate versions of the Ex-Im reauthorizing bills, the likelihood
that it will be included in the final version of the bill after both
chambers conference their versions together has greatly increased.
"With this amendment, the US Congress is telling the governments of
Turkey and Azerbaijan that it is wrong to continue their Cold War
style campaign against Armenia and hurt its economic growth. Their
actions against Armenia will meet with real consequences, and we are
taking note of this inexcusable behavior," Congressman Crowley said.
"By excluding Armenia in these regional projects, Turkey and Azerbaijan
are putting the finishing touches on a 10-year-old economic blockade
against this republic that has made great progress in implementing
democratic and economic reforms."
When implemented, the amendment would prohibit the Export-Import bank
from providing loan guarantees, insurance or extension of credit
in connection with the planning, or development of a cross-country
railway connecting the cities of Kars, Turkey; Tbilisi, Georgia;
and Baku, Azerbaijan, which deliberately avoids Armenia.
In 2005, Turkey, Azerbaijan and Georgia finished construction on the
Baku-Tbilisi-Ceyhan pipeline, which does not pass through Armenia,
despite that being fastest and most economically sound route. For
over the last 10 years, Armenia has been subject to an illegal
blockade of its borders by Azerbaijan and Turkey, severely damaging
its economy. In spite of this blockade, however, Armenia has managed
to make democratic and economic reforms. The Export-Import Bank of
the United States is the official export credit agency of the United
States. Ex-Im Bank's mission is to assist in financing the export of
U.S. goods and services to international markets.
Rep. Crowley stated, "The American taxpayer should not be required to
finance a project that goes against the interests of the US government
in the South Caucasus. The Caucasus region can only move forward when
all neighboring countries move forward together."