The World Bank recently announced that financing for renewable energy and energy efficiency programs in developing countries increased by 24 percent last year. This brings the total amount spent last year on these programs to $3.3 billion dollars, which exceeds the commitments made in 2004 to supply funding for new energy initiatives. This financing has allowed for 366 renewable energy and energy efficiency projects to be undertaken across 90 different countries. These projects include the construction of solar, wind, biomass and hydroelectric power plants, upgrades to electrical transmission and distribution infrastructure, and the replacement of old industrial and commercial air conditioning and refrigeration units.
Renewable energy and energy efficiency projects accounted for over 40 percent of the bank's energy-related lending. This shift in the focus of energy spending demonstrates the internationally recognized importance of efficient energy programs. For more information, visit http://www.worldbank.org/energy
Friday, September 18, 2009
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