Biden Administration Announces Restrictions on Overseas Fossil Fuel Financing but Remains Silent on EXIM and Other Key AgenciesIn the past five years, DFC and its predecessor, Overseas Private Investment Corporation, approved almost $4 billion for overseas fossil fuel projects. In addition, EXIM has approved over $5 billion for fossil fuel projects abroad in just the last two years. Conspicuously missing is any commitment to curb fossil fuel financing by the U.S. Export-Import Bank (EXIM), which is the U.S. export credit agency and the largest source of U.S. Government financing for fossil fuel projects abroad. This failure stands in stark contrast to the United Kingdom’s ending of its support for overseas fossil fuel projects as of March 31, 2021. These institutions finance billions in fossil fuel projects a year, and importantly, also influence policy changes in client countries that enable fossil fuel expansion and dependency.