The report “Locked Out of a Just Transition: Fossil Fuel Financing in Africa” has been published by Oil Change International, BankTrack, and Milieudefensie. This report reveals the scale of financial support provided by commercial banks, development finance institutions, and export credit agencies that flowed to the fossil fuel industry in West, Central, East, and Southern Africa between 2016 and June 2021.
It identifies at least $132 billion in lending and underwriting into 964 gas, oil and coal projects in West, East, Central and Southern Africa. The vast majority of this finance came from financial institutions based outside Africa, both commercial banks and public finance institutions like development banks and export credit agencies.
The report can be downloaded here
