Africa launches long-delayed energy bank to finance fossil fuel projects

After repeated delays, the Africa Energy Bank (AEB) was officially launched this week - tasked with financing oil and gas projects across the continent as global lenders retreat from such investments due to climate concerns.

Even as the world aims to transition away from fossil fuels, many African leaders have made clear they want to continue exploring and extracting the continent's large oil and gas deposits - estimated at about 125 billion barrels of crude and more than 600 trillion cubic feet


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