July 17, 2008
HP-1086

U.S. Executive Director to the European Bank for Reconstruction
and Development Nominee Kenneth L. Peel
Testimony Before Senate Committee on Foreign Relations

Washington - Chairman Menendez, Senator Lugar, and Members of the Committee, I am grateful to the President for my nomination to be U.S. Executive Director to the European Bank for Reconstruction and Development, and I am deeply honored to appear before the Senate Foreign Relations Committee to discuss my qualifications for this position.

Being here today, I feel that I have come home. Since July 2001, I have served in a series of foreign and economic policy positions in the Administration. For six years before that, I served two Senators on this Committee: Senator Hagel, when he chaired the International Economic Policy Subcommittee, and Senator Snowe during her first two years in the Senate when she chaired the International Operations Subcommittee.

The great bulk of my professional career has been working on foreign policy and international economic policy in Congress, with a special focus on multilateral diplomacy. Before working in the Senate, I spent 12 years in the House, ten of those as professional staff on the House Foreign Affairs Committee.

Since July, 2001 I have held three positions in the Executive Branch. I served:

• as a Member of Secretary of State Colin Powell's Policy Planning Staff working on international organization and Eurasian issues,
• as an NSC Director covering international environment and energy issues, and
• as Deputy Assistant Secretary for International Development Finance and Debt at the Treasury Department.

In short, I believe that I am well equipped both by my academic and professional background to take on the position for which I have been nominated. My current position prepares me particularly well. As Treasury Deputy Assistant Secretary, I oversee U.S. policy towards all of the major multilateral development banks such as the World Bank and the regional development banks, including the European Bank for Reconstruction and Development.

Even though this nomination is coming late in the Administration, there are huge issues currently at the EBRD that will affect our interests in both the institution and in the region over the next six months. As you know, U.S. Executive Directors at the multilateral development banks are essentially our Ambassadors to those institutions. Since I work day in and day out on MDB policy, I see how important is to have strong Senate-confirmed Directors in place.

If confirmed by the U.S. Senate, I look forward to bringing my skills and background to advancing U.S. interests at the EBRD. I believe in our sometimes complicated system of government. Our co-equal, separate branches of government give us a unique strength when we work together, genuinely consult on policy directions, and speak with one voice. If confirmed, I look forward to being available to speak or meet with you or your staff at any time, and hope you won't mind if I seek out your advice at critical junctures in several of the key issues facing U.S. interests at the EBRD in the months ahead.

Mr. Chairman, Senator Lugar, Members of the Committee, I am grateful for the opportunity to appear before you today. I would be pleased to answer any of your questions.