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Ex-Im amends its Mozambique LNG loan

The US Export-Import Bank (Ex-Im) has amended the scope of its financing for the Mozambique LNG project on the Afungi Peninsula to include support for the project’s offshore production.

During September 2019, Ex-Im authorised a USD5 billion loan to support US exports for the development and construction of the onshore portion of project, as HLPFI reported here.

The size of the loan has since been amended and will now amount to approximately USD4.7 billion. The new scope of the financing will see USD1.8 billion of this sum used to support the project’s offshore production.

The number of US suppliers has also increased from 37 to 68.

Ex-Im president and chairman, Kimberly A. Reed, said: “Ex-Im’s financing for the Mozambique LNG project continues to strongly support President Trump’s Prosper Africa Initiative to unlock opportunities for US businesses in Africa. The amendment approved today expands the scope of US involvement in the project to support even more American jobs—16,700 US jobs—across additional states.”

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