Reforming energy financing can radically hasten energy access in developing countries: report

KATHMANDU, Jan. 24 (Xinhua) -- Poor families in developing countries like Nepal are being denied access to basic technology and services by financial systems which fail to bring them modern energy, a new report launched here on Wednesday revealed.

The report "Poor People's Energy Outlook (PPEO) 2017" was released by global development charity Practical Action in the capital city, which stressed on the need of national financing on energy sector.

The report comes at a time when one billion people are still without access to modern energy, preventing them from reaching their full potential and emerging from poverty, while in Nepal, still around 22 percent of population has no access to electricity.

The new PPEO report considers how to best finance national integrated energy access plans based on analysis of the markets and consultations with energy-poor communities.

"Society in energy poverty cannot be poverty free. Reducing energy poverty is fundamental to development," Prabhu Budathoki, member of National Planning Commission, said after launching the report.

The report presents in-depth research into the mix of technologies and funding required to achieve Total Energy Access by 2030 that includes energy access at the household level, in community services like health clinics and schools, and in enterprises and for productive uses of energy. Enditem