The European Union has launched the “Energising Development” Initiative, which aims to provide access to sustainable energy for an additional 500 million people in the developing world, within the framework of the Sustainable Energy for All Initiative.
Launched during the EU Sustainable Energy for All Summit, which took place in Brussels, Belgium, recently; the Initiative has a number of components, including plans to launch a new EU Technical Assistance Facility.
It will also aim to expand and improve energy-related EU financial mechanisms and risk guarantee schemes to encourage private investment in developing countries. The Technical Assistance Facility will be funded with €50 million over the next two years to support those developing country partners that wish to take part in the initiative.
This will assist in providing EU expertise in the field, in addition to promoting sustainable development and economic growth in the respective regions.
José Manuel Barroso, European Commission President, emphasized the linkages between energy, development and the Millennium Development Goals (MDGs), noting that the Energising Development Initiative underscores the EU’s commitment to provide universal access to sustainable energy by 2030.
UN Secretary-General Ban Ki-moon lauded the new initiative, noting that its success will not only assist in substantially meeting the targets set under the Sustainable Energy for All Initiative, but will also contribute to economic growth, natural resource protection and poverty eradication.
The Sustainable Energy for All Initiative was launched by UN Secretary-General Ban Ki-moon to mobilize support and action to achieve universal energy access to modern energy services by 2030, as well as doubling the rate of global energy efficiency improvements and the share of renewable energies by 2030.