Dive Summary:
- The 18-year loans could be applied to a variety of projects including wind, solar, and thermal power.
- American companies that could benefit from the funding include General Electric, Santa Monica, SolarReserve, and Siemens AG, according to U.S. Export-Import Bank President Fred Hochberg.
- American business leaders have acknowledged the challenges of doing business in Africa such as political stability concerns and fears of potential takeovers by the government.
From the article:
The U.S. will offer South Africa up to $2 billion in loans to fund renewable energy ventures involving American companies, a top official said Monday, a potential boon for both the electricity-hungry nation and U.S. business interests.
The 18-year loans will be funded out of the U.S. Export-Import Bank, the government’s vehicle for promoting U.S. export sales by providing low-interest loans for services and goods produced by American industries. The funding could be applied to a variety of projects, including wind, solar and thermal power, said Fred Hochberg, the bank president and chairman. ...
