The World Bank received a letter from 20 of the world’s leading off-grid clean energy entrepreneurs requesting $500 million in financial commitments to help meet the world’s energy access goals.
The letter said, “We work in these markets and we know they suffer from, among other things, a distinct lack of access to finance.” The signees said that a significant investment in the sector from the World Bank could reduce perceived risk and potentially gain more private investment.
In Africa’s case, the World Bank and other financial institutions like the African Development Bank are granting loans; however, some African governments do not like the stipulations based upon these loans and instead look to China to gain capital.
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