US Ex-Im Bank Audit Finds Lack of Growth Strategy in Africa
- Inspector General report evaluates bank activity from 2014-23
- Ex-Im is a backer of energy projects in Angola and Mozambique
The Export - Import Bank of the United States in Washington, DC.
Photographer: Jon Elswick/AP PhotoThis article is for subscribers only.
The US Export-Import Bank has lacked a clear strategy for growth in Africa as trade the lender is meant to support has waned over the last decade, according to an audit by the inspector general.
The official export credit agency of the US aimed at supporting American jobs by facilitating its goods and services abroad “had not successfully expanded its performance” in sub-Saharan Africa, Michael Ryan, assistant inspector general for special reviews and communications, wrote in the report published Monday. It also found no specific office within Ex-Im had been designated to oversee strategy in the region and that the bank’s programs had a small, if any, effect on employment.