Pakistan increases fuel prices in effort to meet IMF conditions, while cost of importing LNG surges.
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World Bank’s backed energy reforms in Nigeria set to raise electricity prices further despite amid Covid-19 pandemic.
World Bank trust fund ESMAP will provide support for domestic market, while IFC will support private sector investment in CCUS.
Bank support facilitated $1 billion in private investment in LNG on the island, despite the green credentials of natural gas being widely debunked.
The Bank’s new Africa energy strategy offers it an important chance to mainstream achieving SDG7 into its energy lending on the continent.
New energy policy sees European Investment Bank end support for unabated coal, oil and gas from 2021.
Move comes after concerted civil society campaign calling for ‘fossil-free EIB’.
Bank’s $3.75 billion loan in 2010 has failed to deliver reliable energy to South African users, despite eye-watering cost overruns.
Bank commissions energy options study, which will explore alternate electricity sources.
CAO audit finds IFC failed to identify gaps in project’s social and environmental assessment, while communities impacted by the project face impacts on water source, livelihoods and levels of violence.