A new United Nations (U.N.) report has observed that access to electricity is germane to accelerating economic development in the world’s least developed countries and said it would cost an estimated $12 billion to $40 billion in annual investments to gain access to electricity in those countries, Oriental News reports.
The report asserts that such countries in Africa among others need access to electricity if they are to break out of poverty, just as it urged wealthy nations to do more to honor their aid commitments to help bridge the energy gap. The report by the U.N. Conference on Trade and Development says 60 percent of people in the world’s poorest countries, 47 of which meet the U.N.’s standards for being “least developed,” have no access to electricity – some 577 million people in total.
The countries covered in the report include 33 in Africa, nine in Asia, and five in the South Pacific and Caribbean. The U.N. is encouraging governments in those countries to adopt policies to attract investors and improve use of their energy resources. Renewable energy has the potential to play a revolutionary role in such countries. So far, most of those initiatives have been small scale, and the U.N. is urging that use of such technologies be scaled up to be useful for public utilities.
Source: Energy Mix Report