U.S. Ex-Im Bank Suspends $1 Billion Loan for Energy in India

(Bloomberg, Washington, 7 July 2015) The U.S. Export-Import Bank’s $1 billion program to boost India’s clean-energy industry has been suspended after the institution’s lending authority lapsed, an Indian government official working on the project said. Indian Renewable Energy Development Agency Ltd., or Ireda, signed a memorandum of understanding with the U.S. export credit bank in November covering the program. The funding wasn’t finalized when the Ex-Im Bank’s charter expired on June 30.