World Bank calls for more investments in electricity production

Global efforts to provide universal access to electricity, develop more renewable energy sources and increase efficiency are not on track to meet a target date of 2030, the World Bank said Monday.

With fewer people receiving electricity for the first time in recent years, only 92 percent of the world´s population will have access to power by 2030, the bank said in a new report published together with the International Energy Agency. Universal access by the target date would require a five-fold increase in investment rates, it estimates.

Some 1.06 billion people lacked electricity in 2014, "only a slight improvement since 2012," the report said.

"If we´re to make access to clean, affordable and reliable energy a reality, action must be driven through political leadership," Rachel Kyte, special representative to the UN secretary general for sustainable energy, said in a statement.

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