Africa Energy Bank Launched by Afreximbank and APPO to Fund Energy Projects

The African Export-Import Bank (Afreximbank) and the African Petroleum Producers’ Organisation (APPO) have formally established the Africa Energy Bank, according to an Afreximbank statement. The new institution is a $5bn bank intended to fund African energy projects.

Formal Establishment of the Africa Energy Bank

The creation of the Africa Energy Bank was confirmed in a statement issued by Afreximbank. The bank brings together Afreximbank and APPO as its founding parties.

Purpose and Scale

The Africa Energy Bank is designed as a $5bn institution with a mandate to fund energy projects across Africa. The statement identifies the bank’s role in financing African energy projects as its central purpose.