This paper presents the motivation behind the acceleration ofWorld Bank activities in renewable energy (RE) project development andfinancing. Analytical evidence is mounting that anthropogenicgreen-house gas emissions may have a serious effect on climate and hencedrastic economic dislocations. In addition, dramatic progress intechnical improvements and cost reduction in renewable energytechnologies during the past few years have brought about a surge ofinterest in developing RE projects in developed as well as developingcountries. The combined effect of these developments is leading theWorld Bank's clients and donors to the increasing consideration ofrenewable energy projects as the main means for a long-term solution tothe atmospheric warming risk. Also, additional local and regionalenvironmental benefits are expected to accrue from the gradualtransition from fossil fuels to renewable energy resources. The SolarInitiative was established at the World Bank in the Spring of 1994 tofulfil two main objectives: (a) to provide active support to the Bank'sregional units for (RE) project identification and preparation; and (b)to play a coordinating, strategic, and catalytic role in removingbarriers that impede the introduction of renewable and otherenvironmentally sustainable technologies in developing countries. Thepaper outlines these programmatic objectives, the accomplishmentsachieved to date, and the current plans of the Solar Initiative
展开▼
