US Allocates $7 Billion for Argentine Energy and Minerals

The Government of the United States announced a financing package of up to $7 billion in loans to support energy, mining, and infrastructure projects in Argentina. Announced on September 23, 2026, in New York during the United Nations General Assembly, the initiative is managed by the Export-Import Bank of the United States and runs through 2027.

The funding aims to help Argentine companies purchase American equipment and hire U.S. firms to expand pipelines, ports, railways, and power networks. A primary goal is to secure supply chains for lithium, copper, and rare earths while reducing U.S. reliance on China's mineral processing industry. The agreement specifically targets connecting the Vaca Muerta shale fields and mineral-rich regions in northwest Argentina to ports for global export.

Argentine Foreign Minister Pablo Quirno and U.S. Deputy Secretary of State Christopher Landau presented the accord at the Argentine consulate. The package utilizes export credits, guarantees, and insurance from the Export-Import Bank of the United States and the U.S. International Development Finance Corporation, alongside private capital. While some reports focused on a $6 billion allocation for a specific liquefied natural gas project in the San Matías Gulf, the broader U.S. ceiling is set at $7 billion.

This initiative aligns with President Javier Milei's market-oriented reforms and the Incentive Regime for Large Investments (RIGI) designed to attract foreign capital. It follows a preferential trade and investment agreement signed in February 2026, though that broader agreement remains unratified by the Argentine Congress.