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U.S. Throws Down Gauntlet to China With Mozambique LNG Loan

  • Exim Bank approves $4.7 billion loan for Total-led LNG project
  • Gas project development could support 16,700 American jobs
Photographer: Jason Alden/Bloomberg
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U.S. President Donald Trump’s sparring with China is playing out in an unlikely new arena: the sandy turf of northern Mozambique, one of the world’s poorest countries.

The U.S. Export-Import Bank on Thursday approved the broadened scope of a $4.7 billion loan to back American suppliers to a liquefied-natural-gas development that could transform the southeastern African nation’s economy. The lender said China and Russia had both been considering helping finance it.

“We were told that China and Russia were slated to finance this deal,” Kimberly A. Reed, the bank’s president, said in a statement. “This is a great example of how a revitalized Exim, thanks to President Trump’s leadership and bipartisan support from Congress, can help ensure the use of ‘Made in the U.S.A.’ products and services, without ceding ground to countries like China and Russia.”