Access to energy is essential to reduce poverty. Globally, over 1.2 billion people still do not have access to electricity. About 2.8 billion use solid fuels — wood, charcoal, coal, and dung — for cooking and heating. Read More »
The World Bank Group committed $8.2 billion to support energy finance in FY 2012; of which the major sources were $3 billion from IBRD, $1.9 billion from IDA, $2 billion from IFC, and $500 million from MIGA. Since 2007, the Bank Group has provided $12.5 billion for renewable energy projects and programs, just over one-quarter of all energy financing over the same period, which totaled $49.2 billion. In FY 2012, renewable energy projects totaled $3.6 billion — 44% of the year’s energy sector commitments. Looking only at power generation projects approved in FY 2012, renewables accounted for an even larger share — 84%. The Climate Investment Funds have committed over $7.6 billion to date into clean energy projects.
Grid interconnection: Ethiopia-Kenya. Increased electricity supply in Kenya at lower cost with enhanced revenues to Ethiopia through electricity exports. Likely cost - $1.3 billion at completion, eventually benefiting 212 million people living in five countries.Read More »