African Export-Import Bank (Afreximbank) has signed an Agreement with the African Petroleum Producers Organization (APPO) according to which both parties will collaborate on the establishment of an African Energy Transition Bank in support of an Africa-led energy transition strategy. The new institution will accelerate Africa’s economic development, whilst ensuring this progress is compatible with, and complementary to, the Sustainable Development Goals (SDG) as well as the continent’s long-term social and environmental objectives as set out in African Union’s Agenda 2063: The Africa We Want.
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