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Energy is considered one of the world’s most important commodities on which nearly the entire modern economic system depends on. Increasing population and energy consumption have led to increased international competition for access to energy and energy project financing both to maintain current and to add new capacity.
Developing countries that often have to rely on external financing outside the government budget to finance energy projects and infrastructures are increasingly exposed to a whole range of risks particularly political and economic ones. The concept of energy security is perhaps a good example of multidimensional faces of energy which go beyond economics universe. Thus it is only right to come up with energy problem resolution based on multidisciplinary approach. Additionally, how countries meet their energy demands in general and choice of energy sources have become issues of international interests.
The World Bank that has been central to the world’s reconstruction and development of economies destroyed/disrupted by war and conflict in developing countries since its inception in 1944 undoubtedly has made some contributions to economic developments and social constructs in developing countries. It is also argued that the World Bank has been an important actor who instigated major political reforms in the course of history of developing countries. Since the debut of the U.S. Clean Air Act in the 1960s environmental issues have arguably gained wide international acceptance among policy makers, academicians and practitioners across the globe. This has raised the barrier within the energy sector due to stricter regulatory requirements to internalize externality by the generation and consumption of energy. The focus has shifted from economic development pursuance to a more holistic development which takes into account social, economic and environmental aspects known as sustainable development.
Responding to market dynamics the World Bank role has also evolved from traditional multilateral lender to an international organization that advocates for poverty alleviation and sustainable development. This book discusses the role of the World Bank (i.e. the IBRD and IDA only) in developing countries energy project financing (DCEPF) as Lender of Last Resort (LLR), Functional Catalyst and Policy Adviser.
Energy is considered one of the world’s most important commodities on which nearly the entire modern economic system depends on. Increasing population and energy consumption have led to increased international competition for access to energy and energy project financing both to maintain current and to add new capacity.
Developing countries that often have to rely on external financing outside the government budget to finance energy projects and infrastructures are increasingly exposed to a whole range of risks particularly political and economic ones. The concept of energy security is perhaps a good example of multidimensional faces of energy which go beyond economics universe. Thus it is only right to come up with energy problem resolution based on multidisciplinary approach. Additionally, how countries meet their energy demands in general and choice of energy sources have become issues of international interests.
The World Bank that has been central to the world’s reconstruction and development of economies destroyed/disrupted by war and conflict in developing countries since its inception in 1944 undoubtedly has made some contributions to economic developments and social constructs in developing countries. It is also argued that the World Bank has been an important actor who instigated major political reforms in the course of history of developing countries. Since the debut of the U.S. Clean Air Act in the 1960s environmental issues have arguably gained wide international acceptance among policy makers, academicians and practitioners across the globe. This has raised the barrier within the energy sector due to stricter regulatory requirements to internalize externality by the generation and consumption of energy. The focus has shifted from economic development pursuance to a more holistic development which takes into account social, economic and environmental aspects known as sustainable development.
Responding to market dynamics the World Bank role has also evolved from traditional multilateral lender to an international organization that advocates for poverty alleviation and sustainable development. This book discusses the role of the World Bank (i.e. the IBRD and IDA only) in developing countries energy project financing (DCEPF) as Lender of Last Resort (LLR), Functional Catalyst and Policy Adviser.
