African nations that are members of the Petroleum Producers’ Organisation will collaborate with the African Export-Import Bank to launch an energy bank by the year’s end, according to Dr. Omar Farouk Ibrahim, the APPO general secretary.
The African Petroleum Producers’ Organisation (APPO) is putting the finishing touches on plans to establish the Africa Energy Bank. The bank is being set up to finance oil and gas operations in Africa in order to curb external financing which typically has its limitations.
Dr. Omar Farouk Ibrahim, “This is going to focus essentially on funding oil and gas projects on the African continent because the funds have dried.”
