The Export-Import Bank of the United States (EXIM) unveiled several major financing agreements in Angola this week at the U.S.-Africa Business Summit in Dallas, Texas, underscoring its commitment to boosting trade and investment across Africa.
At a signing ceremony alongside Angolan President João Lourenço on Tuesday at the summit, EXIM President Reta Jo Lewis announced over $1.3 billion in direct loans to support renewable energy projects and infrastructure development in the country.
“We were actually proud to be able to announce that – on Tuesday, we announced alongside the president of Angola, where we participated in a signing ceremony to celebrate the closing of three key partnerships for global infrastructure and investment, PGII projects, in Angola,” Lewis stated.
The largest deal is a $900 million financing package for the construction of two solar power plants, marking EXIM’s biggest renewable energy project ever in sub-Saharan Africa. The plants will significantly increase Angola’s clean energy capacity.
]EXIM also closed a $363 million loan under its China and Transformational Exports Program to finance exports of modular steel bridges and equipment from U.S. small business Acrow Corporation. The bridges will help build vital infrastructure across Angola.
Additionally, a $42 million loan will allow Angola to purchase FM radio transmitters, towers, training and other broadcasting equipment from U.S. company Gates Air. This will enable the Angolan government to extend its radio communications to around 95% of the population.
EXIM Bank Expanding Partnerships in Africa
Lewis emphasized EXIM’s congressional mandate since 2019 to increase financing available in sub-Saharan Africa. She highlighted the bank’s efforts to sign memorandums of understanding with several African governments and institutions, facilitating up to $500 million in U.S. exports for each agreement.
“We are prepared to work with African countries and partner with all stakeholders to ensure that our exporters compete on a level playing field,” Lewis stated. She noted EXIM has undertaken over five trips to Africa in the past year to meet with officials and the private sector, recognizing the importance of public-private partnerships.
With a focus on key sectors like infrastructure, healthcare and women’s entrepreneurship, Lewis underscored EXIM’s role in supporting U.S. exporters while enabling purchases of American goods and services to drive economic growth across the continent.
