Public Energy Financing Overseas
As part of our international sustainable finance campaign, we track government-backed institutions that fund energy projects overseas. We work to end public financing of fossil fuels and to give a voice to affected communities.
Today the board of directors at the United States Export-Import Bank voted to notify Congress about potential financing for fossil fuel expansion in Bahrain.
This week, Friends of the Earth United States and partners sent an open letter to EXIM, asking the bank to halt its loan of $400 million to Trafigura, a loan agreement that was approved in July 2023.
This week, the U.S. Export-Import Bank approved $90 million for marketing a Freeport liquified natural gas project in Texas.
The U.S. government has spent more than $44 billion on fossil fuel projects overseas over the last decade.
EXIM continues to invest in projects with severe environmental impacts, human rights abuses, and detrimental effects on local communities and public health.
The headline finding is that from 2016 to 2018 G20 countries provided an average of USD $77 billion a year in public finance for fossil fuels.