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

by Eric Olander
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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