Agency on Trump’s Chopping Block Under Investigation for Sketchy Solar Loans
30th May 2017
A federal aid program President Donald Trump proposed cutting is under investigation for giving out nearly $1 billion in loans to several nearly bankrupt solar companies, according to a Reuters report published Tuesday.
The Office of Inspector General for the U.S. Agency for International Development (USAID OIG) is auditing $890 million of loans approved by the Overseas Private Investment Corporation (OPIC), a program used to advance loans to overseas business ventures.
This is the sort of proglodyte virtue-signaling at taxpayer expense that the Obama administration specialized in.
USAID OIG initially began its audit in 2016 but kept it under wraps. The probe is centered on OPIC’s decision to fund five Chilean solar farms and a hydroelectric project in 2013 and 2014 – many of the loans are unlikely to be repaid, according to the report.