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UK pledges $25m for World Bank’s Energy Sector Management Assistance Program

Alexander Richter Alexander Richter 14 Dec 2018

UK government has pledged GBP 20 million to the World Bank’s Energy Sector Management Assistance Program (ESMAP), a global knowledge and technical assistance program administered by the World Bank that has been doing some great work on geothermal energy.

As part of a wider announcement of funding by the World Bank, Canada and the UK, it was announced that the UK government has pledged GBP 20 million to the World Bank’s Energy Sector Management Assistance Program (ESMAP), a global knowledge and technical assistance program administered by the World Bank to help low- and middle-income countries implement environmentally sustainable energy solutions.

Claire Perry, the UK’s Minister for Energy and Clean Growth, said, “The UK and Canada have truly led the world in powering past coal, with the UK going more than 1,700 hours without coal this year. But climate change is a global problem, which requires a united response. This World Bank fund, backed by GBP 20 million from UK Government, will allow world-leading expertise to be shared globally to encourage developing countries to move away from coal power and embrace renewable energy, helping them to save the planet while giving their economies a vital boost.”

The Energy Sector Management Assistance Program (ESMAP) has been playing a strong role to support geothermal energy development with various initiatives and reports. ESMAP’s Global Geothermal Development Plan helped leverage a US$350 million project to scale up private sector investment for geothermal development by reducing the risks taken on by investors during early-stage drilling. Among those projects is the Risk Sharing Mechanism introduced to Turkey by ESMAP in 2017.

So the funding provided now by the UK will hopefully continue those efforts and even strengthen them.

Among the geothermal reports and research shared by ESMAP are:

Source: World Bank