The Rockefeller Foundation and U.S. International Development Finance Corporation (DFC) announced they have signed a Memorandum of Understanding to work to end energy poverty by promoting investment in Distributed Renewable Energy (DRE) around the world. The agreement will focus on delivering reliable, sustainable electricity to the 800 million people worldwide who currently lack electricity, and 2.8 billion more who have unreliable access, to support economic recovery from the COVID-19 pandemic and foster long-term economic growth.
The partnership will be built around three pillars; Financing, Global Platform, and Green Energy
“The pandemic has undermined decades of progress on poverty reduction,” said Dr. Rajiv J. Shah, President of The Rockefeller Foundation. “Global cooperation and investment are desperately needed to address this crisis and ensure a broad and inclusive economic recovery. Our collaboration with DFC will be key to unlocking significant investment in distributed energy and will build on the Foundation’s work to expand access to reliable, sustainable electricity that can power the lives and livelihoods of hundreds of millions of people.”
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