Economy

ISA members seek support for developing solar projects in small island nations

Our Bureau New Delhi | Updated on October 31, 2019 Published on October 31, 2019

Ministers from 29 countries attend second International Solar Alliance Summit

Member countries of the International Solar Alliance sought enhanced support from multi-lateral development institutions such as the World Bank to set up solar power projects in small island countries. This demand was stated at the second International Solar Alliance (ISA) assembly on Thursday in New Delhi.

The Assembly was attended by the Ministerial delegations of 29 countries that also approved the rules of the ISA.

An official statement said that delegations from 78 countries are participating in the Assembly. Invitations were sent to all 193 United Nation member countries to participate in the ISA summit. Two countries, Eritrea and St. Kitts & Nevis signed the ISA framework agreement taking the total number of signatories to 83.

Speaking to reporters after the Assembly, Ian Patches Liburd, the Minister of Public Infrastructure, Post, Urban Development and Transport at St. Kitts and Nevis called for support from the Common Risk Mitigation Mechanism of the ISA to develop solar power generation facilities.

Liburd said that even though they are smallest island nation in the Western Hemisphere, they are not gaining support from multi-lateral institutions such as the World Bank because of the higher per capita income of the island.

Commenting on the status of ISA’s risk mitigation financing options to aid deployment of solar power generation facilities, ISA Secretary General Upendra Tripathy said, “A task force was formed in May 2016 to look after the Risk Mitigation Mechanism...Today it has been launched for 33 countries. The World Bank has committed $ 23 million, Agence Française de Développement (AFD) of France has put in EUR 50 million. This facility will not be limited to these countries alone. In fact, as has been raised by the ISA countries, the World Bank needs to expand the jurisdiction of the risk mitigation mechanism to cover small island countries.”

Published on October 31, 2019
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