The US Export-Import Bank said on 22 August its board planned to vote on a $5bn loan for the Area 1 Mozambique LNG project. A statement said it had notified Congress of the transaction, which would be voted on after a 35-day congressional notification period. If approved, the transaction would support US exports of goods and services for the engineering, procurement and construction of the onshore LNG plant and related facilities. “These US exports are facing direct competition from financing offered by foreign export credit agencies,” the statement said.