Wednesday, 07 April 2021 01:13

U.S. Export-Import Bank Warned on Mozambique Risks Before $4.7 Billion Loan

 The Export-Import Bank of the U.S. decided to lend $4.7 billion to a gas project in Mozambique despite its own analysis warning about security risks that have since forced Total SE to suspend work at the site.

Ex-Im Bank approved the financing last year, outlining that it would support about 16,700 U.S. jobs over a five-year construction period. The funding accounted for the biggest share of about $15 billion raised for the project and, according to the bank displaced funding efforts by China and Russia as the U.S. government sought to deflect their growing influence in Africa.

Read 277 times

LET'S HAVE YOUR COMMENTS BELOW