Biden Bragged About Building A Solar Farm In Africa. Taxpayers Are Fronting $900 Million For It
John Hugh DeMastriJune 16, 20230
President Joe Biden on Wednesday bragged about his administration’s plans to build a solar farm in Africa that U.S. taxpayers are funding a $900 million loan for.
Biden’s boast occurred during a speech hosted by the League of Conservation Voters, in which he promoted his administration’s energy and environmental policies, including the Inflation Reduction Act (IRA), a seemingly non-existent railroad from the Pacific Ocean to the Indian Ocean and “one of the largest solar plants in the world” in Angola. To fund this solar plant — which is a partnership between the Angolan government, and U.S.-based firms AfricaGlobal Schaffer and Sun Africa — the U.S. Export-Import (EXIM) Bank on June 1 approved for a $900 million loan.
The EXIM Bank is an independent agency within the Executive Branch of the United States, which means the president does not directly control it. The agency is nonetheless backed by the “full faith and credit” of the U.S. government, and charged with issuing loans to firms that “the private sector is unable or unwilling to accept” to support U.S. businesses abroad, according to its website.
https://www.conservativedailynews.com/2023/06/biden-bragged-about-building-a-solar-farm-in-africa-taxpayers-are-fronting-900-million-for-it/
