South Africa gets $2bn nod from US ECA

08 Aug 2012

South Africa’s energy sector looks set to get financing assistance of up to $2bn from the Export-Import Bank of the United States (US Exim) after the US firm signed a declaration of intent (DOI) with the state-run Industrial Development Corp of South Africa.

Under the DOI, the US export credit agency (ECA) has invited South African energy companies to apply for any of US Exim’s products, including export credit insurance, supply chain finance guarantees and direct lending, said a US Exim spokesperson.

“It will be on a transaction by transaction basis ...

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