The long road to African energy finance
The launch of the much-needed yet oft-delayed Africa Energy Bank remains shrouded in questions and funding constraints, but its potential is clear
The Africa Energy Bank (AEB), intended as a vehicle to improve financing for oil and gas projects on the continent, is struggling to get off the ground. The AEB is a joint venture backed by the African Export–Import Bank (Afreximbank) and the Africa Petroleum Producers Organization (APPO). The plan was to launch the bank in June, but the timetable is now uncertain. The bank’s establishment agreement and charter were officially signed in June, but it is unclear when the AEB will be operating. Spokespeople for Afreximbank and APPO did not respond to questions about when the bank will start. A source, who did not want to be named, said the bank is not yet ready, but that a “soft launch” is bein
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