Gulf countries rake in billions in Ex-Im Bank subsidies
Several Middle East nations are taking full advantage of a US export financing program whose loans and guarantees supporters say create American jobs and critics claim undermine the US economy. Scroll down to see our interactive table.
A handful of Gulf countries are among the biggest beneficiaries of the endangered US export subsidy program, an Al-Monitor analysis reveals.
Companies from Saudi Arabia and the United Arab Emirates together pulled in about $12 billion in trade financing over the past five years — 8.5% of the $141 billion global total — to help pay for nuclear reactors, industrial power generators and new fleets of Boeing jets. That includes a record-setting $5 billion loan to help Saudi Arabia build one of the world's largest petrochemical complexes.
