Renewable energy has seen a resurgence at the World Bank.
A recent report on the bank’s energy lending shows funding for renewable sources of energy reached $3.5 billion in fiscal year 2014 — 38 percent of total lending for power generation and up nearly 126 percent from renewable energy lending in fiscal 2013.
Total funding to hydropower generation alone increased more than twofold: from 677 million in fiscal 2013 lending for hydropower rose to $2.3 billion this year.
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About the author
Jacques Jimeno
Jacques is a former copy editor at Devex’s news production team. Previously, he worked with the Philippine Department of Tourism and the World Wide Fund for Nature.
