Trump administration allocates $7 billion to fund projects in Argentina

The administration of U.S. President Donald Trump announced on Wednesday that it will allocate $7 billion in loans to support energy, mining, and infrastructure projects in Argentina, in its latest move to secure energy and critical mineral sources near the United States and to support the country’s libertarian-leaning leader, Javier Milei.

The U.S. Department of State said that the U.S. Export-Import Bank, a federal agency, will make up to $7 billion available by 2027 to finance projects in Argentina, helping domestic companies secure loans to purchase American equipment and hire U.S. firms to expand the country’s railway networks, pipelines, ports, and power grids.

The deal supports President Donald Trump’s efforts to reduce reliance on China’s metal processing industry, while also bolstering support for his ally, President Javier Milei, who is counting on oil, gas, and mineral exports to transform Argentina’s economy and alleviate the chronic dollar shortage that has repeatedly triggered economic crises.

In a statement, the U.S. Department of State said: “The United States and Argentina, by working together, seek to continue building on their strong relationship by increasing U.S. investment, deepening security cooperation, and sharing common values.”