The US Export-Import Bank (EXIM) has decided to invest $100 billion to strengthen supply chains for critical minerals, nuclear energy, and liquefied natural gas (LNG) across the US and its allies, according to EXIM chair John Jovanovic in an interview with the Financial Times published Sunday.
Jovanovic said the first round of deals will include projects in Egypt, Pakistan, and Europe, as the West seeks to reduce its dependence on what he described as increasingly unfair sources of essential raw materials.
“We can’t do anything else that we’re trying to do without these underlying critical raw material supply chains being secure, stable and functioning,” he told the FT.
Also read: US, Pakistan sign MoU on critical minerals cooperation
Among the initial investments, EXIM will provide a credit insurance guarantee for $4 billion worth of natural gas deliveries to Egypt by New York-based Hartree Partners and a $1.25 billion loan for the Reko Diq copper and gold mine in Pakistan, being developed by Barrick Mining.
Jovanovic noted that the bank still has $100 billion available from the $135 billion authorised by Congress.
The move is in line with US President Donald Trump’s energy-dominance agenda, which aims to boost domestic energy output and reduce regulatory barriers.
