The host country for the headquarters of the African Energy Bank will be revealed in March 2024, with the multi-billion bank set to start operating before June.
Spearheaded by pan-African organization the African Petroleum Producers Organization (APPO) and multilateral financial institution Afreximbank, the African Energy Bank will provide funding to advance the development of African oil and gas projects.
The bank’s capitalization will amount to $5 billion, sourced from the contributions of $83 million from each of the 18 member states of APPO.
