Africa Energy Bank launched in Abuja to finance oil and gas as Western lenders retreat

Afreximbank and APPO formally launched the Africa Energy Bank in Abuja on October 31, after four years of planning and a 20-month delay. The bank will finance oil and gas projects that Western banks and development lenders have abandoned due to climate commitments. This institutional shift could sustain African hydrocarbon production and alter global energy investment flows.

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