READOUT: Export-Import Bank of the United States Sub-Saharan Advisory Committee Meets to Discuss Renewable Energy Exports
WASHINGTON – The 2021-2022 Sub-Saharan Africa Advisory Committee for the Export-Import Bank of the United States (EXIM) met yesterday to discuss opportunities and ideas to expand export credit support for renewable projects across sub-Saharan Africa.
The hybrid meeting was led by committee Chair Jim O’Brien. EXIM President and Chair Reta Jo Lewis, First Vice President and Vice Chair Judith Pryor and Director Spencer Bachus all expressed their gratitude for the work the committee has done throughout the past year and reaffirmed EXIM’s commitment to supporting American-made clean energy technologies that will power the global energy transition.
“The entire Biden-Harris Administration is committed to tackling the climate crisis and leading the global energy transition,” said Chair Lewis. “With our interagency partners, EXIM is standing tall to do our part in this effort by unlocking the capital that will help advance American-made clean energy technology competitiveness.”
Members of EXIM’s Council on Climate then briefed the committee on their forthcoming recommendations for how EXIM can further fulfill the agency’s mandate to increase support for environmentally beneficial, energy efficient, energy storage and renewable energy exports.
Following that presentation, the Committee heard from several exporters who discussed the global landscape for renewable energy, with a specific focus on trends in sub-Saharan Africa. Presenters included Plug Power, Lightsourcebp US, Nextracker, and Pollination Capital. EXIM staff then followed with an update on the agency’s key product offerings and recent projects in Africa.
Finally, U.S. Department of Treasury’s Climate Counselor John Morton briefed the group on U.S. government support for renewable energy in Africa. The meeting closed out with a committee discussion and period for public comment.
Established by Congress, the Sub-Saharan Africa Advisory Committee provides guidance and advice regarding EXIM policies and programs designed to support the expansion of financing support for U.S.-manufactured goods and services in sub-Saharan Africa.
ABOUT EXIM:
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.