Malaysia Pushes Creation of Clean Energy Bank for Islamic Countries

A worker from Engineers without Borders educates residents about solar panels in Sarawak, Malaysia. Photo by: Tom Taylor / CC BY-NC 2.0 Tom TaylorCC BY-NC 2.0

Malaysia has proposed the creation of a clean energy development bank for developing Islamic nations.

In a May 19 speech at the World Islamic Economic Forum in Kuala Lumpur, Malaysian Prime Minister Najib Razak said his country is ready to lead the initiative. The bank, he explained, aims to speed up the development of green energy-related industries in poor member countries of the Organization of the Islamic Conference, Bloomberg reports.

“There is tremendous potential for the development of alternative energy sources,” the Malaysian premier said.

Further discussions on the proposal are due to take place today, May 20, at the forum, he added.

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    Eliza Villarino

    Eliza Villarino currently manages one of today’s leading publications on humanitarian aid, global health and international development, the weekly GDB. At Devex, she has helped grow a global newsroom, with talented journalists from major development hubs such as Washington, D.C, London and Brussels. She regularly writes about innovations in global development.