Power Africa: Ex-Im Bank backs Caterpillar agent

The Export-Import Bank of the United States (Ex-Im Bank) on 18 June announced that its board had approved guarantees for a $15m loan extended by Netherlands-based Rabobank International to Energyst, an exporter of Caterpillar generation equipment. Energyst sells goods “made here in America and for potential use in Africa or Latin America”, Ex-Im Bank chairman Fred Hochberg was quoted saying. Despite being for a temporary thermal power provider, the deal was placed in the context of President Barack Obama’s Power Africa initiative. “It will help countries develop newly discovered resources responsibly, build out power generation and transmission, and expand the reach of mini-grid and off-grid solutions,” Ex-Im Bank said.