CHAPTER TWO • OFID OPERATIONS BY SECTOR
Energy: Powering development
National priorities and policy ambitions need to be strengthened to meet energy targets
Strategic context
Progress has been made on ensuring access to affordable, reliable and modern energy for all under Sustainable Development Goal 7, thanks to better electrification rates – particularly in the least developed countries – and improvements in industrial energy efficiency. However, The Sustainable Development Goals Report 2018 by the United Nations is clear that national priorities and policy ambitions still need to be strengthened to put the world on track to meet energy targets for 2030.
Energy is widely accepted as one of the most fundamental ingredients to develop- ment and OFID has long focused on supporting access to energy, worldwide. By the end of 2018, the organization had committed a cumulative amount of $5,091.9m to energy operations.
In 2018, $386m
was approved for operations in the energy sector
2.1 Energy* commitments 2018 by region ($m)
207.5 Africa 103.2 Asia 75.0 Latin America & Caribbean 0.4 Multiregional
Activities in 2018
With $386m out of a total $1,498.7m, energy approvals accounted for more than one-quarter of total approvals in 2018.
Of the new finance, $200m was approved in trade financing. The beneficiary countries were: Burkina Faso ($50m), Djibouti ($20m),
Egypt ($50m), Maldives ($40m) and Pakistan ($40m).
The private sector attracted nearly $108m for power stations in Bangladesh ($22m) and Senegal ($28.6m), and for Cameroon ($57.3m).
Under OFID’s Public Sector Operations window, a $75m loan was directed to the Dominican Republic for the third phase of an electricity distribution rehabilitation and loss reduction program that is expected to reach more than 607,000 users.
OFID’s Grants and Technical Assistance window approved $2.2m to rural energy schemes aimed at harnessing renewable energy sources in Mali, Niger and Senegal, and installing mini-grids in India and Zambia. Support was also given for an initiative in India to increase the adoption of liquefied petroleum gas across the country.
A detailed breakdown of operations can be found in Chapter 4. For more information please visit:
http://www.ofid.org/FOCUS-AREAS/Energy
2.2 Energy* commitments 2018 by mechanism ($m)
200.0 Trade Finance 107.9 Private Sector 75.0 Public Sector 3.2 Grant Assistance
Total commitments in 2018: $386.0m
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*Power & Minerals
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