World Bank urges increased funding for Clean Energy projects

The World Bank is stating that developing countries will invest some $300 billion each year for the next 25 years to meet their clean energy needs. They want to develop some new types of loans and grants that would help these developing countries make their power generations cleaner and more efficient. A report detailing these plans, drafted at the request of the G-8, seems to be “gaining traction” among these developing countries.

“The report focused on the energy sector since that accounts for about 80 percent of greenhouse gas emissions and urged a staged approach, from immediate efficiency-enhancing steps to longer-term research and development financing.

One idea floated by the World Bank is the creation of a grant to help developing countries cut the cost of buying new high-efficiency energy technology and infrastructure.”

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