World Bank makes huge jump in funding of renewable energy projects
7 Oct 2008
The World Bank’s funding for renewable and efficient energy projects in developing countries rose 87 per cent during the past year to nearly $2.7 billion, reflecting the growing interest and demand for environmentally friendly sources of power.
“Concerns about energy security, climate change, and increasing energy prices make many renewable energy and energy efficiency measures and applications very attractive in a number of different settings,” said Jamal Saghir, World Bank Director for Energy, Transport, and Water.
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