Both ENDS
A new analysis shows that the developers of the East African Crude Oil Pipeline, led by France’s TotalEnergies, are being forced to self-finance the project almost entirely. The analysis, part of a new Finance Risk Updatefrom a coalition of African and International civil society organisations, shows that the companies have abandoned plans to raise 60% of the project’s growing costs from bank loans, and are now on the hook for almost 90% of the costs themselves.