World Bank Approves US$35 Million for Clean Energy and Improved Electricity Access in Haiti

Stocks and Financial Services Press Releases Friday October 27, 2017 09:40
WASHINGTON--27 Oct--World Bank

WASHINGTON, October 26, 2017— The World Bank's Board of Executive Directors approved two grants totaling US$35 million to improve access to electricity for more than two million Haitians, and to scale-up investments in renewable energy in underserved rural and urban areas.

"Haiti has significant untapped sources of renewable energy", said Anabela Abreu, World Bank's Country Director for Haiti. "The country is taking an important step in creating the enabling environment for private investors and in boosting access to electricity. The World Bank Group will continue to support the country in providing sustainable renewable energy to increase access for families, businesses and community services in underserved areas, diversify its energy mix, and reduce electricity cost".

Renewable energy sources such as solar, hydropower, wind and biomass, and off grid electrification have great potential. Over five million people could be reached through solar photovoltaic (PV). Yet, only one in three Haitians has access to electricity and access is very limited in rural areas.

More specifically, the two projects, "Renewable Energy For All" and "Haiti Modern Energy Services for All," will help:

Improve the environment for private investment in clean energy;Expand access for rural households through leveraged investments in micro and mini-grids, and village level systems;Strengthen the capacity of local institutions and develop awareness of local communities on how to use renewable energy;Finance private operators, NGOs and Community Organizations to provide solar lanterns, and individual and home-based solar systems.Both projects will be implemented by the energy cell of the Ministry of Public Works, Transport and Communications (MTPTC in French). The Renewable Energy for All project is financed by a US$ 19.62 million grant from the Scaling-up Renewable Energy Program (SREP); and the Modern Energy Services for All project is financed by a US$ 15.65 million grant from the Clean Technology Fund (CTF). Both grants are from the Climate Investment Fund (CIF) and are part of the World Bank's accelerated effort to provide clean energy and resilient infrastructure.


Latest Press Release

Mongolian Mining Corp. Rating Raised To #B-# Post Debt Res Outlook Stable

SINGAPORE (S&P Global Ratings) Dec. 12, 2017--S&P Global Ratings today raised its long-term corporate credit rating on Mongolian Mining Corp. to 'B-' from 'D'. The outlook is stable. The upgrade reflects MMC's improved capital structure and...

DFCC Bank Outlook Revised To Stable From Ratings Affirmed At #B/B#

SINGAPORE (S&P Global Ratings) Dec. 12, 2017--S&P Global Ratings today revised its outlook on DFCC Bank to stable from negative. At the same time, we affirmed our 'B' long-term and 'B' short-term issuer credit ratings on DFCC Bank. We also...

China International Capital Corp. Ltd., Hong Kong Subsidiary Outlooks Revised To #BBB/A-2# Ratings Affirmed

HONG KONG (S&P Global Ratings) Dec. 12, 2017-- S&P Global Ratings today revised the outlook on the long-term ratings on China International Capital Corp. Ltd. (CICC) and China International Capital Corp. (Hong Kong) Ltd. (CICCHK) to positive from...

Three Ratings Withdrawn On One Mexican RMBS Transaction Insured By MBIA Insurance Corp.

MEXICO CITY (S&P Global Ratings) Dec. 11, 2017--S&P Global Ratings today withdrew three ratings on Hipotecaria Su Casita - Residential Mortgage-Backed Notes, a cross-border residential mortgage-backed securities transaction originated by...

Photo Release: SEC signs MOU with CFA Institute

SEC Secretary-General Rapee Sucharitakul (seventh from left) and Mr. Nick Pollard (sixth from left), Managing Director of the Chartered Financial Analyst (CFA) Institute Asia Pacific Region, signed a program agreement to provide the SEC an access to the...

Related Topics