Home Off Beat World Bank urges clean energy funding for developing countries

World Bank urges clean energy funding for developing countries

world bank logoThe drive to generate cleaner and more efficient power is increasing. And, this is more needed in the developing and densely populated countries. So, the World Bank is urging its steering committee to approve a new breed of loans and grants for this.

After the request of Group of Eight leading nations, a report is drafted for this weekend’s meeting of the International Monetary Fund and World Bank. It is among some emerging countries, the report already seems to have gained traction.

According to the World Bank, some $300 billion are needed to be invested by developing for the next 25 years! It is to meet their need for energy. The energy investment is needed largely in electricity, and that is why the report focused on ways to make projects that are less taxing to the environment.

Via: Environment News Network