What is the Bank’s position on fossil fuel and renewable energy lending?
Building on progress with the CEIF and client demand, the WBG estimates an increase in financing for energy efficiency and new renewable energy by 30 percent a year during fiscal years 2009–11. 1 This growth, 50 percent faster than in the previous five years, together with expanded support to hydropower, will increase the share, by dollar-value, of low-carbon energy projects from 40 percent in fiscal years 2006–08 to 50 percent in fiscal year 2011. The Bank is putting arrangements in place to actively promote energy efficiency opportunities in energy and other infrastructure projects. The Bank is mindful of the fact that overcoming poverty and economic growth in developing countries requires increasing access to energy. There are still 1.6 billion human beings on the planet with no access to electricity. In order to increase energy access developing countries will use the fossil fuels available to them, with or without the involvement of the World Bank Group. The Bank supports developi
