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Experts split over how to fund development

Development banks and commercial institutions argue for different strategies to provide energy to the world’s poor

Multilateral development banks (MDBs) have a crucial role to play in financing the upgrading and expansion of power generation, transmission and distribution systems in the world’s poorest countries. But how funding should be mobilised and invested remains a subject for hot debate. Michael Eckhart, managing director and global head of environmental finance at Citigroup, told delegates at WEC 2013 that more should be done by MDBs – and the World Bank in particular – to fund electrification, rather than relying too much on private sector investment to achieve such a huge task. Some $17 trillion of investment is needed between 2012 and 2035 to upgrade and expand the world’s power generation,

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