Posted by: africanpressorganization | 16 November 2012

Commissioner Piebalgs pledges for Sustainable Energy for All and announces new funding for Somalia


 

 

Commissioner Piebalgs pledges for Sustainable Energy for All and announces new funding for Somalia

 

BRUSSELS, Kingdom of Belgium, November 16, 2012/African Press Organization (APO)/ Commissioner Piebalgs participated today at the Conference of Energy Ministers of Africa in Addis Ababa (Ethiopia) where he stated:

 

“Bringing sustainable energy to everyone on the plane is a bold initiative founded on a simple fact: namely that energy is fundamental to development. No energy means no sustained or sustainable economic growth, no sustainable agriculture, no quality healthcare; no decent education. And this is especially true for Africa, where technology and distance learning can provide a motor for development, all of which is totally dependent on reliable and affordable electricity.

Many African countries have already opted into the initiative and committed to take the necessary reforms to ensure that their energy markets will attract investment; from governance, to regulation, to tax, to transparency. The Commission and EU Member States are committed to standing behind these countries.

The EU has set itself a very ambitious goal; helping developing countries deliver modern energy to 500 million citizens by 2030. And we are taking concrete action to turn this into reality. Just one year after the launch of the initiative we have already mobilised over half a billion euro for Sustainable Energy for All. We have committed an additional 400 million euro for energy-related actions in Sub Saharan African countries, available through innovative financing mechanisms such as blending mechanisms. It is estimated that that this could leverage investments in energy infrastructure of between 4 and 8 billion euro. An EU technical assistance facility of 65 million euro is under preparation. And additionally, in order to provide financing for smaller scale projects typically at national level, a call for proposals under the ACP-EU Energy Facility for 75 million euro is under way. Over the longer term, as we implement our Agenda for Change, we are mapping out priorities for EU development assistance from 2014 onwards and can expect to dedicate another several hundred million euro to these amounts for sustainable and inclusive energy investments every year. Each and every one of us has a responsibility to make Sustainable Energy for All a success and to deliver on what we have promised. You can count on the European Union to play its part.”

Read the full speech: http://europa.eu/rapid/press-release_SPEECH-12-827_en.htm

 

SOURCE 

European Commission


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