AfDB denies plans to finance the East African Crude Oil Pipeline Project

The African Development Bank has denied reports it plans to provide financial support to the East African Crude Oil Pipeline Project.

The lender said that its NEPAD Infrastructure Project Preparation Facility (NEPAD-IPPF) had not provided financing to any private sector company for upstream oil or gas pipeline projects in East Africa. It said the project was not included in the bank's lending programme, and added that it was "strongly committed to renewable energies".