OVERSEES PRIVATE INVESTMENT CORPORATION WILL NOT SUPPORT A PROPOSED RAILWAY BYPASSING ARMENIA
DeFacto Agency, Armenia
May 30 2007
The Armenian Assembly of America commends Congressman Brad Sherman
(D-CA) for securing an assurance on May 25 from the Oversees Private
Investment Corporation (OPIC) that the agency will not support a
proposed railroad linking Turkey, Georgia and Azerbaijan, while
bypassing Armenia. To note, OPIC helps U.S. businesses invest overseas.
"It is important that OPIC not repeat the mistake of the
Baku-Tiblisi-Cheyan pipeline," Sherman said in a press statement.
"Taxpayer funds should not go for projects that deliberately seek to
isolate a friend of the United States, and I appreciate the commitment
not to get involved in the railroad project."
The proposed railway, estimated to cost upwards of $600 million,
excludes Armenia from economic and regional transportation corridors.
Armenian government officials have repeatedly said that a new costly
railway is unnecessary given that a railroad linking Armenia, Georgia
and Turkey already exists.
Last June, the House Financial Services Committee unanimously approved
a provision sponsored by Congressman Joseph Crowley (D-NY), along
with Sherman and Rep. Ed Royce (R-CA), prohibiting the Export-Import
Bank from supporting the rail link project. That provision was adopted
and is now a law.
"The Assembly thanks Congressman Sherman for his leadership on this
issue," said Assembly Executive Director Bryan Ardouny. "The proposed
project, sponsored by the Turkish and Azeri governments, runs counter
to U.S. policy goals, which seek to foster regional cooperation and
economic integration and includes open borders and transport and
communication corridors. OPIC’s assurance helps ensure that the U.S.
will not be a party to the flawed policies of Armenia’s neighbors",
he added.