Brussels – The European Union (EU) is to assist developing countries in providing access to sustainable energy to their populations.

Under its Energizing for Development Initiative, the European Commission – the EU’s executive body – aims to support the provision of sustainable energy services to 500 million people in poorer countries by 2030.

José Manuel Barroso, President of the European Commission, announced that the initiative would also create a Technical Assistance Facility worth €50 million, drawing on EU experts, to develop technical expertise in developing countries.

The initiative will also focus on refining, expanding and improving energy-related innovative financial instruments and risk guarantee schemes in developing countries to unlock greater private investment.

In the lead up to the UN Conference on Sustainable Development (Rio+20) in June, the EU and its member states will seek to raise additional resources to support new investments in sustainable energy in developing countries, with the goal of leveraging even greater flows of investment from the private sector.

“Without energy access, we simply will not meet the Millennium Development Goals [MDGs],” said Mr. Barroso.

“That’s why we’ve organised today’s summit – we are committed to the aim of providing universal access to sustainable energy for all by 2030,” he said.

The International Energy Agency estimates that 1.3 billion people – one in five globally – lack electricity to light their homes or conduct business.

Twice that number – nearly 40 per cent of the world’s population – rely on wood, coal, charcoal or animal waste to cook food, resulting in toxic smoke that causes lung disease and death.
DD