development banks

The World Bank announced last week that its Board of Executive Directors approved the Second Energy Sector Project, which will help strengthen Mongolia’s electric grid and develop a 10MW installation within the country.

Whilst African solar is still firmly an emerging market, investors have confirmed that issues remain with development finance, insofar as it is holding back the market from truly taking off. Whilst development finance institutions (DFIs) are a crucial part of allowing the market to find its feet, the continent’s economic infrastructure needs to move beyond the realm of development finance for commercial financiers to be enticed.

Manila-based bank, the Asian Development Bank (ADB) is partnering with governments, communities and the private sector to support clean energy projects in the Pacific region.

Utility-scale solar projects totalling 750MW could receive support from the European Bank for Reconstruction and Development.

A panel of development finance institutions and project developers at the annual Africa Energy Forum on Friday discussed how they are shaping the continent’s emerging energy sector; in taking on the risk that commercial capital typically will not.