-also aimed at rolling back Chinese competition
The US EXIM Bank on Boxing Day gave final approval for a long-awaited US$527m loan for the government’s ambitious gas to energy project and its greenlighting is also part of the institution’s pushback against Chinese competition.
The Exim Bank’s press release issued on December 26 said “This project also falls under EXIM’s China and Transformational Exports Program (CTEP) mandate, as the numerous U.S. companies that were ultimately awarded the contract faced direct competition from the People’s Republic of China”.
According to its website, the China and Transformational Exports Program (CTEP) is a mandate for EXIM to help U.S. exporters facing competition from the People’s Republic of China and ensure the U.S. continues to lead in the 10 Transformational Export Areas: AI • Biotech • Biomedical • Wireless Communications • Quantum Computing • Renewable Energy, Storage, & Efficiency • Semiconductors • Fintech • Water Treatment & Sanitation • High Performance Computing.
