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Afreximbank, African Petroleum Producers Organization (APPO) Launch African Energy Bank in Angola

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  The African Export Import Bank Afreximbank and the African Petroleum Producers Organization APPO which have had a long standing mutually beneficial relationship have signed an agreement for the joint establishment of an African Energy Bank www EnergyChamber org at the 8th African Petroleum Congress and Exhibition CAPE VIII in Luanda Angola All parties involved in the signing Ren Awambeng Director and Global Head of Client Relations at Afreximbank and Dr Omar Farouk Secretary General of APPO in the presence of HE Jo o Manuel Gon alves Louren o President of the Republic of Angola and the APPO Ministers are concerned about the challenges facing Africa s oil and gas industry and the economic development of the continent and all parties recognize the impact of climate change on the continent and the need for a transition fair in line with the United Nations Sustainable Development Goals and the African Union Agenda 2063 As we address the energy transition challenges facing the world and Africa we must take into account the fact that Africa still needs to rely on its natural resources including oil and gas for its future development Through this new venture Afreximbank and APPO are working to achieve this vision said Rene Awambeng Afreximbank s Director and Global Head of Client Relations at the signing ceremony Under the agreement the two institutions have decided to work together to find an Africa led solution to combat the threat posed to the African oil and gas industry caused by the coordinated withdrawal of international trade and project financing and they are committed to taking the necessary steps to find a solution to this challenge The new bank will address the vacuum created by the withdrawal of international banks from financing oil and gas projects in Africa Awambeng said adding that it will be an Africa led solution to address the threat posed to the African oil and gas industry due to lack of funds This will be a balanced solution with the aim of preserving both the environment and livelihoods
Afreximbank, African Petroleum Producers Organization (APPO) Launch African Energy Bank in Angola

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African Export-Import Bank

The African Export-Import Bank (Afreximbank) and the African Petroleum Producers Organization (APPO), which have had a long-standing mutually beneficial relationship, have signed an agreement for the joint establishment of an African Energy Bank (www.EnergyChamber. org) at the 8th African Petroleum Congress and Exhibition (CAPE VIII) in Luanda, Angola.

naija breaking news today

naija breaking news today

Director and Global Head of Client Relations

All parties involved in the signing: René Awambeng, Director and Global Head of Client Relations at Afreximbank, and Dr. Omar Farouk, Secretary General of APPO, in the presence of HE João Manuel Gonҫalves Lourenҫo, President of the Republic of Angola , and the APPO Ministers: are concerned about the challenges facing Africa’s oil and gas industry and the economic development of the continent, and all parties recognize the impact of climate change on the continent and the need for a transition fair in line with the United Nations Sustainable Development Goals and the African Union Agenda 2063.

Afreximbank and APPO

“As we address the energy transition challenges facing the world and Africa, we must take into account the fact that Africa still needs to rely on its natural resources, including oil and gas, for its future development. Through this new venture, Afreximbank and APPO are working to achieve this vision,” said Rene Awambeng, Afreximbank’s Director and Global Head of Client Relations at the signing ceremony.

Under the agreement, the two institutions have decided to work together to find an Africa-led solution to combat the threat posed to the African oil and gas industry, caused by the coordinated withdrawal of international trade and project financing, and they are committed to taking the necessary steps to find a solution to this challenge.

“The new bank will address the vacuum created by the withdrawal of international banks from financing oil and gas projects in Africa,” Awambeng said, adding that “it will be an Africa-led solution to address the threat posed to the African oil and gas industry due to lack of funds. This will be a balanced solution with the aim of preserving both the environment and livelihoods.”

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