The proposed Africa Energy Bank, which will focus investment in oil and gas projects across the continent, is set to start operations later this year with an initial $5 billion authorised capital base, a senior official said on Wednesday.
The bank, a partnership between Afreximbank and the African Petroleum Producers Organisation (Appo), is meant to help plug a funding gap in Africa amid pressure on major banks from environmental groups to shift investment dollars away from climate-warming oil and gas projects.
