Posted by: Dr. Breffni Lennon | June 21, 2012

OPEC Fund for International Development (OFID) commits US$1 billion towards tackling energy poverty

The OPEC Fund for International Development (OFID), meeting on June 14th in Austria, have finally ratified a commitment of a minimum of US$1 billion towards financing its Energy for the Poor Initiative, which was launched  back in June 2008, in Jeddah, Saudi Arabia. A further $500m in loans was to be made available to poorer countries to help cope with the sky-rocketing oil prices experienced since the global financial crisis. The statement can be read here.

The UK charity, Practical Action, has a useful website on energy poverty that can be accessed here.

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