{"id":38465,"date":"2025-11-23T11:08:48","date_gmt":"2025-11-23T11:08:48","guid":{"rendered":"https:\/\/financialrush.com\/?p=38465"},"modified":"2025-11-23T11:08:48","modified_gmt":"2025-11-23T11:08:48","slug":"export-import-bank-to-spend-100bn-to-achieve-us-energy-dominance","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=38465","title":{"rendered":"Export-Import Bank to spend $100bn to achieve US energy dominance"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description o3-type-body-base\">Your guide to what Trump\u2019s second term means for Washington, business and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=05671769-9f3c-411d-8d84-3d1c091b1904&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>The US Export-Import Bank will invest $100bn to achieve President Trump\u2019s plan for global energy dominance, with a first tranche of deals involving projects in Egypt, Pakistan and Europe, its new chair has said.<\/p>\n<p>John Jovanovic, who was appointed in September, told the Financial Times that the government agency would finance efforts to secure US and allied supply chains for critical minerals, nuclear energy and liquefied <a href=\"https:\/\/www.ft.com\/natural-gas\" title=\"\" data-trackable=\"link\">natural gas<\/a> to counter western reliance on China and Russia.<\/p>\n<p><a href=\"https:\/\/www.ft.com\/stream\/d62638e0-904e-4e88-983e-f82c23ebf9ec\" title=\"\" data-trackable=\"link\">Ex-Im Bank<\/a> was \u201cback in a big way, and it\u2019s open for business\u201d, said Jovanovic in his first interview after taking over at the helm of the bank.\u00a0<\/p>\n<p>Its focus would be on bringing \u201cUS energy molecules to every corner of the globe\u201d and on addressing the west\u2019s over-reliance on critical mineral supply chains that \u201care no longer fair\u201d, he said.<\/p>\n<p>\u201cWe can\u2019t do anything else that we\u2019re trying to do without these underlying critical raw material supply chains being secure, stable and functioning.\u201d<\/p>\n<p>Ex-Im is one of several US government agencies that have been charged by the White House with supporting energy and mineral projects in an effort to grow domestic industry and shore up western supply chains.\u00a0<\/p>\n<figure id=\"kdritbdt\" class=\"n-content-image n-content-image--full\" data-component=\"image-set\"><picture><source media=\"(min-width: 700px)\" srcset=\"https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3A0c447ac8-5001-400e-b0dd-7f2161894c7b?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=1 1x\" width=\"1280\" height=\"854\"\/><\/picture><figcaption class=\"n-content-picture__caption o3-editorial-typography-caption\"><span>US Export-Import Bank chair John Jovanovic said American LNG would provide energy security to parts of the world \u2018that need it most\u2019<\/span><span> <\/span><\/figcaption><\/figure>\n<p>The vulnerability of commodity flows has been thrown into sharp relief by the imposition by China this year of <a href=\"https:\/\/www.ft.com\/content\/399ad440-ecd3-4fb0-b97d-a0d8e0a8a22c\" title=\"\" data-trackable=\"link\">export restrictions<\/a> on rare earth metals and magnets, as well as by the energy crisis in Europe following Russia\u2019s full-scale invasion of Ukraine.\u00a0<\/p>\n<p>Jovanovic said Ex-Im\u2019s early deals would include a credit insurance guarantee for $4bn of natural gas being delivered to Egypt by New York-based commodities group Hartree Partners, and a $1.25bn loan for the giant copper and gold Reko Diq mine being developed by Barrick Mining in Pakistan.\u00a0<\/p>\n<p>The bank said it authorised $8.7bn in new transactions in the 12 months to the end of September. This does not include a $4.7bn loan that was reapproved in March to support an LNG project in Mozambique led by <a href=\"https:\/\/www.ft.com\/content\/b4404ab3-40dd-41b4-b1c4-16cf8a5dfa93\" title=\"\" data-trackable=\"link\">France\u2019s TotalEnergies<\/a>.<\/p>\n<p>Jovanovic said Ex-Im had $100bn left to deploy of the $135bn authorised by Congress.<\/p>\n<p>Ex-Im was being \u201cinundated\u201d with requests for support for LNG projects coming from Europe, Africa and Asia, and a series of multibillion-dollar LNG supply deals would be announced in the coming days, he said.\u00a0<\/p>\n<p>While some development banks have climate change-related mandates that prevent them from investing in fossil fuels projects, Ex-Im cannot exclude them. Jovanovic said American LNG would be a \u201cstabilising factor in providing energy security to parts of the world that need it most\u201d.<\/p>\n<p>Ex-Im\u2019s increased focus on supporting LNG exports and energy security represents a shift of emphasis for the bank, which had been expanding support for renewable energy under former president Joe Biden. Last year it supported $1.6bn in green energy projects, an increase of 74 per cent compared to 2023.<\/p>\n<p>Nuclear energy will be a focus under the bank\u2019s new leadership. Ex-Im was \u201cactively in discussions\u201d about several nuclear projects in south-east Europe where US companies such as Westinghouse were looking to invest, said Jovanovic. It is also looking to back mining projects for uranium \u2014 used to make nuclear fuel \u2014 the flows of which have moved increasingly into China and Russia.\u00a0<\/p>\n<p>The White House has stressed the importance of breaking the dependency on China for metals including copper, which is widely used in infrastructure projects, and rare earths, which go into the defence, energy and technology sectors.<\/p>\n<p>Ex-Im was planning to finance critical minerals projects \u201cin a large way\u201d and was working on deals that were \u201cvery near the finish line\u201d, said Jovanovic. Much of what was in the pipeline was \u201corders of magnitude larger\u201d than the $1.25bn Reko Diq loan, he said.<\/p>\n<aside aria-labelledby=\"aside-label\" class=\"n-content-recommended--single-story n-content-recommended--inset\" data-component=\"recommended\">\n<p class=\"n-content-recommended__title o3-type-body-highlight\">Recommended<\/p>\n<div class=\"o-teaser o-teaser--article o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser\" data-id=\"61eb395b-f28c-4add-b8af-b99d68ee6f86\">\n<div class=\"o-teaser__image-container js-teaser-image-container\"><a href=\"https:\/\/www.ft.com\/content\/61eb395b-f28c-4add-b8af-b99d68ee6f86\" data-trackable=\"image-link\" data-trackable-context-story-link=\"image-link\" tabindex=\"-1\" aria-hidden=\"true\"><\/p>\n<div class=\"o-teaser__image-placeholder\" style=\"aspect-ratio:2048\/1152\"><img decoding=\"async\" class=\"o-teaser__image\" src=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/https%3A%2F%2Fimages.ft.com%2Fv3%2Fimage%2Fraw%2Fhttps%253A%252F%252Fd1e00ek4ebabms.cloudfront.net%252Fproduction%252Fef9f3463-0d6e-458e-a503-41236ba2f0b4.jpg%3Fsource%3Dnext-article%26fit%3Dscale-down%26quality%3Dhighest%26width%3D700%26dpr%3D1?source=next&amp;fit=scale-down&amp;dpr=2&amp;width=240\" alt=\"\"\/><\/div>\n<p><\/a><\/div>\n<\/div>\n<\/aside>\n<p>The White House penned a minerals supply deal with Australia in October and was working on similar deals with other nations that Ex-Im was \u201cready to be a part of,\u201d he added.\u00a0<\/p>\n<p>Last year Ex-Im provided $5.9bn in medium-to-long-term export credit support, up from $4.7bn in 2023. This ranked it seventh behind the world\u2019s leading export credit agencies, with China ($23.5bn) and Germany ($18.6bn) taking the top two spots, according to Ex-Im\u2019s annual competitiveness report.\u00a0<\/p>\n<p>The report, which was published in June, warned Ex-Im was being outgunned by rival export credit agencies with James Cruse, Ex-Im\u2019s acting chair at the time, writing: \u201cEx-Im is running a 20th century [export credit agency] now into the first quarter of the 21st century.\u201d\u00a0<\/p>\n<p>\u00a0<\/p><\/div>\n\n<br \/><a href=\"https:\/\/www.ft.com\/content\/05671769-9f3c-411d-8d84-3d1c091b1904\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Unlock the White House Watch newsletter for free Your guide to what Trump\u2019s second term means for Washington,&hellip;\n","protected":false},"author":5,"featured_media":38466,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-38465","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/38465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38465"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/38465\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/38466"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}