Rwanda, April 17 – African countries, as well as Asian are ready to take a firm stand concerning United States’ President statement Donald Trump concerning coal fired stations. The President has asked financial institutions to withdraw their financial aid, in a bid to discourage use of coal as an energy resource and encourage the use of alternative source of power as solar energy.
Bretton Woods Institutions is believed to change its stand in supporting coal-fired stations financially as they aim at focusing on eco-friendly energy sources. Most countries in Africa are not financially capable to handle the pressure of considering alternative sources of energy with their purchasing power limited by the economic status of the government.
Inability to access electricity has led to the shying off of potential investors to invest in rural areas and other parts of the countries. This has in turn not eradicated the poverty level of many countries in Africa as energy and electricity is needful to create job opportunities and expand the economy with development projects. Industrialization heavily relies on power and without adequate supply it proves to be a major challenge in launching investments.
World Bank, is avidly adamant of its aim that access to reliable modern energy will end poverty by countries meeting their goals in their different economic sectors.
Carbon emissions have been a major concern to climate change activists as they look to ensure the environment is stable.
Better technology and digital migration could make the African countries achieve their energy targets. Huge investments could as well help the countries in raking revenues for other development projects.
Fossil fuels are not becoming options as solar energy, and wind energy are gaining more popularity. World Bank’s inclusion in the energy sector is to help countries reach their prosperity level by lighting their path to greatness.