What's Happening?
The Export-Import Bank of the United States (EXIM) Board of Directors has approved a $16 million direct loan to Empire State Mines in New York. This marks the eighth transaction under the Make More in America Initiative, aimed at strengthening U.S. supply chains and supporting American jobs. The loan will finance zinc mining equipment and infrastructure updates, enhancing the critical mineral supply chain. Zinc is essential for transportation and infrastructure applications, contributing to U.S. economic and national security. The transaction is expected to support 10 full-time and 22 temporary jobs in Gouverneur, New York.
AD
Why It's Important?
This loan approval highlights EXIM's commitment to bolstering U.S. competitiveness, particularly against the People's Republic of China. By supporting the procurement of critical minerals like zinc, EXIM is helping to secure the supply chain and maintain U.S. leadership in strategic industries. The initiative aligns with broader national priorities to enhance economic security and create good-paying jobs. Such transactions are crucial for maintaining the U.S.'s competitive edge in global markets, especially in sectors where China is a significant player.
