New funding to boost growth and access to energy in the Pacific
Commissioner Andris Piebalgs, today announced new EU funding which amounts to €10 million to boost access to sustainable energy in the Pacific Islands. Speaking ahead of the Pacific Energy Summit, due to take place in Auckland, New Zealand, on 24 - 25 March, the Commissioner underlined that the funding would provide access to affordable and safe energy to the poorest living in some of the most remote areas of the Pacific, helping to significantly increase trade and growth opportunities in the region.
Commissioner Piebalgs said: “At the moment, the Pacific is held back by its remote location and lack of energy access. It is clear that there can be no development without sustainable and affordable energy. At the same time, there are considerable opportunities for the private sector in this area. That's why our new investment facility is so crucial and is a key opportunity for donors, financial institutions and businesses alike to come together and reduce poverty by investing in sustainable and environmental projects. Let's make the most out of this region's huge potential and get the Pacific even further on the road to growth.”
The isolated location of the Pacific Islands and subsequent high costs of importing fuel leads to a real lack of access to affordable and sustainable energy. This considerably affects health, education and trade opportunities in the region. Around 46% of people in the Pacific are thought to be disadvantaged.
For more information: http://europa.eu/rapid/press-release_IP-13-257_en.htm