Cornyn Announces His NADBank Provision Included in USMCA

In: All News   Posted 12/19/2019

WASHINGTON –U.S. Senator John Cornyn (R-TX) released the following statement applauding the inclusion of his provision to bolster the North American Development Bank (NADBank) in the U.S.-Mexico-Canada Agreement (USMCA):

“Investing in modern, efficient infrastructure along our border streamlines trade and benefits not only Texas, but the entire nation,” said Sen. Cornyn.  “The North American Development Bank has a proven record of improving the quality of life on both sides of the U.S.-Mexico border, and I’m glad the USMCA shows our commitment to strengthening it.”

The North American Development Bank was created jointly by the United States and Mexico in 1993 to preserve and enhance environmental conditions and the quality of life for communities along the U.S.-Mexico border. Since that time, NADBank has helped finance 63 Texas projects with a combined value of more than $1.7 billion.

Earlier this year, Sen. Cornyn introduced the bipartisan North American Development Bank Improvement Act of 2019 to authorize the Treasury Department to increase its capital and provide additional authority to fund projects related to limited natural gas and land port of entry infrastructure.