The official export credit agency of the United States is set to vote on whether to underwrite a loan backing an oil and gas project in Bahrain.
U.S. Export-Import Bank EXIM, the official export credit agency of the United States, is voting on Thursday whether to underwrite a loan backing an oil and gas project in Bahrain despite a U.S. pledge to stop supporting the expansion of fossil fuel projects.
” “In 2023 the institution funded nearly $1 billion for overseas oil and gas development, violating President Biden’s 2021 Executive Order,” Friends of the Earth United States said last month. Kate DeAngelis, Senior Program Manager of International Finance for Friends of the Earth, said “Time and again the Export-Import Bank proves itself to a be a loose cannon, blatantly disregarding White House climate guidance to funnel hundreds of millions in taxpayer dollars toward fossil fuels.
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