#EndEnergyPoverty
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September 2015

Bridging the energy divide

Anita Marangoly George's picture
Haiti. Dominic Chavez / World Bank

Energy is fundamental to economic growth and environmental sustainability. Sustainable Development Goal 7 -- "Ensure access to affordable, reliable, sustainable, and modern energy for all" -- recognizes that energy underpins progress in all areas of development. But 1.1 billion people still live without electricity, and another 2.9 billion live without modern fuels for cooking and heating.

Recognizing this gap is one thing. But having the working partnerships, monitoring tools and financing to move forward is another matter. The great news about the Energy SDG is that these pieces are finally falling into place.

A major factor in this momentum is Sustainable Energy for All, an initiative set up after Rio+20, the UN's 2012 Conference on Sustainable Development in Rio de Janeiro. The SE4All initiative has high-level leadership and strong political support. Co-led and chaired by UN Secretary General Ban Ki-moon and World Bank Group President Jim Yong Kim, it has quickly brought together the public sector, private sector and civil society around three ambitious goals: ensuring universal access to modern-energy services; doubling the rate of improvement in energy efficiency; and doubling the share of renewable energy in the global-energy mix.

Being the 'honest broker' for Ghana’s one-of-a-kind energy deal

Pankaj Gupta's picture
Podcast: Investment in Ghana
It’s not every day that oil and gas companies commit to an $8 billion project, even as commodity prices show no signs of stabilizing. Such a deal is even tougher to orchestrate in Ghana, where the macroeconomic situation has deteriorated in the past two years, resulting in the country’s restructuring program with the International Monetary Fund.
 
But such an operation did happen.
 
On July 30, the World Bank Group’s Board of Executive Directors approved the largest guarantee support—$700 million in total—in the 20-year history of the Bank’s IDA/IBRD guarantee program. The combination is unique—it draws together the part of the Bank that helps the world’s poorest countries with the arm that offers long-term loans to middle-income developing countries.
 
But its result is even more critical, and possibly a best practice for other countries to follow in the future.