U.S. Senate Committee Blocked Funding for Kars-Tbilisi-Baku Railway Project

PanARMENIAN.Net
22.09.2006 16:16 GMT+04:00

/PanARMENIAN.Net/ The Armenian National Committee of America
(ANCA) today welcomed the vote by a powerful Senate panel to block
U.S. taxpayer funding for an unnecessary and costly proposed railroad
between Turkey and Georgia that would, if built, circumvent Armenia
and, in the process, undermine the economic viability of the existing
Caucasus railroad route through Armenia.

With a unanimous voice vote earlier today, the Senate Banking Committee
adopted the amendment spearheaded by Sen. Robert Menendez (D-NJ),
and later adopted as proposed by Committee Chairman Richard Shelby
(R-AL) and Ranking Democrat Paul Sarbanes (D-MD). According to the
measure, the Export-Import Bank "shall not guarantee, insure or extend
(or participate in the extension of) credit in connection with the
export of any good or service relating to the development or promotion
of any railway connection or railway-related connection that does
not traverse or connect with Armenia, and does traverse or connect
Baku, Azerbaijan, Tbilisi, Georgia and Kars, Turkey." The provision
is now part of the Senate Export-Import Bank Reauthorization Bill,
also adopted unanimously by the Committee, paving the way for full
Senate consideration of the legislation.

"We would like to thank Senator Menendez, Chairman Shelby, Senator
Sarbanes, and all members of the Senate Banking Committee for ensuring
that U.S. taxpayer funds are not wasted in the construction of an
ill-advised railway project, initiated by Turkey and Azerbaijan, solely
to exclude Armenia," stated ANCA Executive Director Aram Hamparian.

From: Emil Lazarian | Ararat NewsPress