Cornyn Introduces Bill to Improve North American Development Bank

In: All News   Posted 06/20/2017

Bank Has Proven Record of Improving Quality of Life, Economy Along U.S.-Mexico Border

WASHINGTON—U.S. Senator John Cornyn (R-TX) today introduced the North American Development Bank Improvement Act of 2017, a bill to improve the North American Development Bank (NADB) so it may continue investing in international land border crossings, natural gas projects and environmental infrastructure along the U.S.-Mexico border.

“For more than 20 years, the North American Development Bank’s investments in our border communities have not only improved the air and water quality, but have updated infrastructure and boosted the flow of goods and services across the border,” said Sen. Cornyn.  “What happens along our border impacts Texas and the nation, and we cannot let this critical resource lapse.”

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.  Sen. Cornyn’s bill will 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.

Sen. Cornyn’s NADBank improvement bill is supported by the United States Chamber of Commerce, Texas Border Coalition, Border Trade Alliance, Rio Grande Valley Partnership, Borderplex Alliance, the League of United Latin American Citizens (LULAC), the Regional Hispanic Contractors Association, the United States Hispanic Chamber of Commerce, the Hispanic Chamber of E-Commerce, and the following local chambers in Texas: the Greater Austin Hispanic Chamber of Commerce, the El Paso Hispanic Chamber, the Houston Hispanic Chamber, the Irving Hispanic Chamber, the San Antonio Hispanic Chamber and the Rio Grande Valley Hispanic Chamber.