9 August 2012 – The United States will finance up to $2 billion worth of US technologies, products and services to South Africa’s energy sector, with an emphasis on clean-energy development.
The Export-Import Bank of the United States, the official export credit agency of the US, and the Industrial Development Corporation of South Africa have signed up to help the South African government’s Integrated Resource Plan and the South African Renewable Initiative.
Export-Import Bank chairman and president Fred Hochberg said South Africa was a dynamic market which offered enormous opportunities for American companies.
The Export-Import Bank of the United States’ mission is to help finance the export of US goods and services to international markets.
The IDC was established in 1940 and is a South African national development finance institution set up to promote economic growth and industrial development.
It is owned by the South African government under the supervision of the Economic Development department.