World Bank Calls For More Clean Energy Investment in Africa

A new World Bank report urged international donors and firms to increase their investments in sub-Saharan Africa’s clean energy sector. “If properly integrated with conventional sectoral assistance already provided by donors, the new climate change-related international financial instruments can boost energy development in Africa,” said World Bank Senior Energy Specialist Christophe de Gouvello, who authored the report. The study presented feasible renewable energy projects in sub-Saharan Africa, which can gain backing from the United Nations’ USD13 billion Clean Development Mechanism and the World Bank’s Climate Investment Funds. (” World Bank: Africa could increase its share in carbon market” - Xinhua News Agency, Sept. 3, 2008)