The Export-Import Bank of the United States (ExIm) approved $500 million in financing for an oil and gas project in Bahrain, despite criticism that it contradicts President Biden’s climate commitments. Lawmakers, including Senator Jeff Merkley, raised concerns about the project’s impact on climate change. Two climate advisers resigned over the plan, and Biden’s administration has expressed concern about the bank’s direction. ExIm defended the financing, citing its mission to support American exports and jobs, and stated that the Bahrain project includes measures to mitigate greenhouse gas emissions. This decision comes amid global efforts to transition away from fossil fuels, and ExIm is also considering other controversial fossil fuel ventures, as well as some renewable energy projects.

https://www.nytimes.com/2024/03/14/climate/exim-financing-biden-bahrain-oil.html