Britain today pledged to spend several hundred million pounds to finance a series of private sector green energy initiatives intended to bring electricity to some of the poorest African and Asian households.
The international development secretary, Andrew Mitchell, said the money, which would come from funds promised at the Copenhagen climate summit last year, would go to projects proposed by industry and could be expected to raise £9 for every £1 committed by government.
"In Africa, a potential new fund could see up to 500MW of renewable energy per year from 2015 - enough to provide for over 4 million rural households. In Asia the project could generate 5GW of new renewable energy and create 60,000 jobs," he said.
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Source: www.guardian.co.uk