Creation of African Energy Bank Approved in Côte d'Ivoire

A bill to this effect was signed Wednesday by the Council of Ministers. An initial capital of US$5 billion is planned, according to the Ivorian government.

The money will be dedicated to financing energy projects and infrastructure in Africa.

The creation of the body was initiated in 2022 by the African Petroleum Producers Organization (APPO) in partnership with the African Export-Import Bank (Afreximbank).