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Worsening Security Conditions in Mozambique Threaten Huge US EXIM Bank Pipeline Deal Meant to Stymie China

File image of Mozambican soldiers on patrol in Mocimboa da Praia. ADRIEN BARBIER / AFP

The U.S. Export-Import Bank disregarded warnings about the worsening security situation in Mozambique and went ahead with a risky $4.7 billion loan for a gas pipeline last year that is now in serious trouble.

The bank became the largest creditor on the $15 billion pipeline project as part of an effort to displace Chinese and Russian investors who also sought a stake in the deal.

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