- New bank targets Africa’s widening energy financing gap.
- $500mn secured; first project financing expected in 2027.
ABUJA, NIGERIA — Africa has formally established a $5bn energy bank to finance energy development as international lenders retreat from fossil fuel projects across the continent.
The African Export-Import Bank (Afreximbank) and African Petroleum Producers’ Organisation (APPO) announced the establishment of the Africa Energy Bank (AEB) at its inaugural general meeting in Abuja on Saturday, 31 October 2026.
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