possible world bank partnership with ministry of energy

In recent months, the Ministry of Energy has been working closely with the World Bank to develop appropriate policies and measures. As a result of the world-wide energy crisis, the Ministry of Energy and the World Bank are now considering a partnership to address the problems facing the country to deal with this issue.

The partnership would see the World Bank offering technical assistance, through its team of experts in the energy sector and targeted investment support for the country.

The technical assistance could cover matters such as suitable technologies and fuel options, the development of renewable energy and energy efficient institutions, policies and programmes. It would also include the reinforcement of planning, economic and financial capacity of the OUR and the Ministry of Energy.

Investment support would include public financing for public projects and loan assistance from the International Finance Corporation.

The possible partnership was announced by the Minister of Energy, Hon. Clive Mullings, on July 10, 2008, while addressing a World Bank hosted seminar of approximately forty (40) representatives of various groups in the energy sector, at the Petroleum Corporation of Jamaica Building. The Minister informed the participants that the energy crisis, being faced by the world, requires global co-operation to overcome the challenges.

Posted 2008 July 22