Export-Import Bank of the U.S. Chair Reta Jo Lewis Joins President Joe Biden’s Visit to Angola to Deepen Investment Partnership

The Historic Trip Highlighted EXIM's $2.9 Billion in Financing for Renewable Energy and Infrastructure Investments Across Angola

FOR IMMEDIATE RELEASE December 9, 2024

Luanda, Angola -Export-Import Bank of the United States (EXIM) President and Chair Reta Jo Lewis travelled to Angola last week with President Joe Biden to further strengthen the U.S.-Angola partnership. The delegation brought together high-level government officials and industry leaders to celebrate strategic investments in Angola that support a more sustainable future through the Biden-Harris Administration's Partnership for Global Infrastructure and Investment (PGI).

Chair Lewis attended the Lobito Trans-Africa Corridor Summit co-hosted by President Biden and Angolan President João Lourenço to celebrate and highlight progress on the development of the Lobito Trans-Africa Corridor and the partnership of the Lobito Corridor consortium. The Summit was attended by African leaders from the Democratic Republic of Congo, Zambia, and Tanzania, as well as private sector CEOs, U.S. development and finance institutions, and the Africa Finance Corporation.

During the trip, President Biden met with the CEO of Sun Africa, which is receiving financing from EXIM to build two solar energy power plants, the largest U.S. investment in solar power in Africa. This project will allow Angola to transition a significant portion of its energy to clean sources while creating over 1,300 American jobs.

Throughout the trip, Chair Lewis met with several Angolan officials to highlight EXIM's commitment to Angola and sub-Saharan Africa, including Vera Daves, Minister of Finance, Victor Lima, Assistant to the President for Diplomacy and International Affairs, and José De Lima Massano, Minister of State for Economic Coordination. Since 2022, EXIM has provided $2.9 billion in financing for various projects in Angola. These projects primarily focus on three key sectors: renewable energy, infrastructure, and telecommunications. This financial support from EXIM is part of the U.S. government's efforts to strengthen trade relations and foster economic development in Angola while promoting American exports and investments in the country. The financing will continue to play a significant role in advancing Angola's development goals, particularly in enhancing energy access, improving infrastructure, and expanding telecommunications networks.

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. Learn more at www.exim.gov.

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