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The Institution reports that in order to address this challenge, collaboration among nations must be fostered and the participation of the private sector must be mobilized, essential measures to escape from the current cycle and unleash the full potential of the energy sector.
The World Bank seeks to leverage its strategic handbook, based on its global expertise and convening power, to attract the private sector and bring cutting-edge innovations and technologies to the region.
Previously, it had already worked with various countries to implement funds aimed at renewable energy, Haiti in 2016 received grants and capital to private companies, In 2019 the bank invested US$35 million in Dominica and St. Lucia in the field of geothermal energy.
Now, this investment aims to change the situation of many people in the region so that they can have access to energies, therefore, to a better development.
Translated by: A.M