Vietnam Pulls Request for U.S. Help to Build a Coal-Fired Power Plant<br />11, 2018<br />HONG KONG — A Vietnamese company is no longer seeking American financial support to build a coal-fired power plant in Vietnam, bringing to an abrupt<br />end a closely watched test of whether Washington would back international projects that could potentially contribute to climate change.<br />On Thursday, the Export-Import Bank of the United States, a lender run by the American government, said the<br />Vietnamese state-controlled company, PetroVietnam, had withdrawn its application for financial support.<br />It isn’t clear why PetroVietnam withdrew the application for American financial support for the Vietnamese coal plant, Long Phu 1.<br />Mr. said that It was easy for the Ex-Im Bank to back out of this project in Vietnam<br />because the power plant was going to get its coal from Indonesia and Australia,<br />On Jan. 26, the United States Treasury Department expanded its Russia sanctions to include Power Machines, a Russian firm<br />that is one of several construction companies with contracts at Long Phu 1.<br />The lender, also known as the Ex-Im Bank, takes on the financial risk for American companies exporting high-value equipment<br />and merchandise as a way to help companies in the United States win valuable international business.
