U.S. Exim Bank Out to Displace China After Record Loan in Africa
- Bank finalizes $4.7 billion loan for Mozambique gas project
- Support could range from power systems to telecommunications
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The Export-Import Bank of the U.S. opened a new front in the trade war between America and China with its biggest loan yet in sub-Saharan Africa, as it plans to compete more aggressively on the continent.
The lender has just provided $4.7 billion to fund a Mozambican gas project -- the largest share of about $15 billion raised for the development.