FUNDS FOR TURK-AZERI RAILWAY BANNED
UmÝt EngÝnsoy

Turkish Daily News , Turkey
Sept 25 2006

US Armenians back measure banning loans

The Senate’s Banking Committee has blocked any funding by the U.S.
Export-Import Bank for a proposed railroad project that would connect
Turkey with Azerbaijan through Georgia and would bypass Armenian
territory.

Backing a campaign by U.S. Armenian groups, the committee unanimously
approved the measure introduced by Democratic Senator Robert Menendez
of New Jersey in a Thursday vote.

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. The
bill welcomed by the Armenian National Committee of America is expected
to be approved at the Senate floor.

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