In a strategic move to bolster U.S. and allied supply chains for critical minerals, nuclear energy, and liquefied natural gas, the U.S. Export-Import Bank (EXIM) has announced a $100 billion investment initiative. This groundbreaking decision was revealed by EXIM Chair John Jovanovic in an exclusive interview with the Financial Times on Sunday. The first wave of projects under this initiative will span Egypt, Pakistan, and Europe, addressing what Jovanovic described as the West’s over-reliance on ‘unfair’ critical material supplies. ‘Without secure, stable, and functioning raw material supply chains, we cannot achieve our broader goals,’ Jovanovic emphasized. Among the initial deals is a $4 billion credit insurance guarantee for natural gas deliveries to Egypt by Hartree Partners, a New York-based commodities group, and a $1.25 billion loan for the Reko Diq mine in Pakistan, developed by Barrick Mining. The bank has $100 billion remaining from the $135 billion authorized by Congress, signaling a robust commitment to reshaping global energy and mineral supply dynamics. This initiative aligns with former U.S. President Donald Trump’s energy-dominance agenda, which prioritized increasing U.S. energy output and rolling back energy and environmental regulations. EXIM has yet to respond to requests for comment outside regular business hours.
