EXIM Board approved up to $10 billion direct loan for 'Project Vault' critical‑minerals reserve

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funding

EXIM Board resolution, loan authorization documents, or EXIM press release confirming the approval and loan terms.

Source summary

The United States hosted the 2026 Critical Minerals Ministerial on February 4, bringing together representatives from 54 countries and the European Commission to coordinate global supply-chain action for critical minerals and rare earths. The U.S. announced the launch of the Forum on Resource Geostrategic Engagement (FORGE) to succeed the Minerals Security Partnership, signed 11 new bilateral frameworks or MOUs, and highlighted over $30 billion in recent government-backed financing and letters of interest to support strategic minerals projects. Agencies cited large financing initiatives including EXIM’s $10 billion Project Vault, DOE loans and conditional commitments for battery and mineral projects, and DFC investments and commitments through partnerships and consortia. USTR also announced coordinated Action Plans with Mexico and plans to work with the European Commission and Japan on supply-chain resilience.

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Latest fact check

EXIM’s official press release (Feb. 2, 2026) states the EXIM Board of Directors approved a Direct Loan of up to $10 billion to “Project Vault,” describing the initiative as establishing a U.S. Strategic Critical Minerals Reserve. The U.S. State Department’s Feb. 4 fact sheet repeats the same $10 billion EXIM loan and purpose, and contemporaneous reporting by Reuters and AP corroborates the administration’s announcement that the $10 billion EXIM loan will seed Project Vault (combined with private capital). Verdict: True — primary official documents and multiple reputable news outlets confirm the EXIM Board approved a Direct Loan commitment of up to $10 billion for Project Vault to establish a U.S. strategic critical minerals reserve.

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Timeline

Update · Feb 05, 2026, 12:19 PMTrue
EXIM’s official press release (Feb. 2, 2026) states the EXIM Board of Directors approved a Direct Loan of up to $10 billion to “Project Vault,” describing the initiative as establishing a U.S. Strategic Critical Minerals Reserve. The U.S. State Department’s Feb. 4 fact sheet repeats the same $10 billion EXIM loan and purpose, and contemporaneous reporting by Reuters and AP corroborates the administration’s announcement that the $10 billion EXIM loan will seed Project Vault (combined with private capital). Verdict: True — primary official documents and multiple reputable news outlets confirm the EXIM Board approved a Direct Loan commitment of up to $10 billion for Project Vault to establish a U.S. strategic critical minerals reserve.
Original article · Feb 05, 2026
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