EXIM Chief Tours Angola, Touts Funding

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Export-Import Bank of the United States (EXIM) President and Chair Reta Jo Lewis traveled to Luanda, Angola, where she met with government leaders, private sector companies and external stakeholders to highlight EXIM's activity in the region.   She also spoke at the Luanda International Trade Fair.

In June, Exim approved a direct loan for more than $900 million to the Ministry of Energy and Water of the Republic of Angola to support the construction of two photovoltaic solar energy power plants. The project will generate over 500 megawatts of renewable power. 

The project -- initially announced during the 2022 G7 Summit by the Government of Angola,  New Orleans consultants AfricaGlobal Schaffer, and Miami based solar developer Sun Africa -- supports  EXIM’s China and Transformational Exports Program (CTEP), a congressionally mandated program to support U.S. exporters facing foreign competition from China. 

Sun Africa recently signed an EPC contract with the Government of Nigeria for 5 gigawatts of solar generation and 2.5 gigawatts of battery storage. US EXIM Bank approved a $1.5 billion loan to finance that development with the Ministry of Industry, Trade, and Investment of Nigeria.