WASHINGTON, June 12, 2007 - The World Bank today approved US$9.5 million provided by the Global Environment Facility to fund renewable energy electricity supplies for rural communities in Papua New Guinea, the Solomon Islands, Vanuatu, Fiji and the Republic of the Marshall Islands.
With the support of ANZ Pacific, (an international bank operating in the Pacific region) assistance will be provided to rural Pacific Islanders so they can access low cost, long term finance to purchase electricity at a fraction of the cost.
World Bank experience in China, Sri Lanka and Bangladesh has shown that renewable energy technologies have become a cheaper option for increasing access to electricity for rural households and small enterprises.
For more information, please visit
> www.worldbank.org/pg
> www.worldbank.org/pi
> www.ifc.org
For information on ANZ Pacific, please contact:
Mr John Velegrinis, General Manager, Distribution,
ANZ Pacific, Ph: +61 3 9273 6762
The World Bank, Press Release No:2007/440/EAP
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