Providing the necessary fuel for growth - Main contents

Sustainable Energy for All Summit takes place in New York

This week I'm attending my first 'Sustainable Energy for All' high-level meeting in New York. I have been impressed by the ambitious roadmap on what is to be achieved in the context of this initiative from the UN Secretary General, which got EU support right from the outset.

Building a global coalition such as 'Sustainable Energy for All' only makes sense if we target those who need our support the most. And this is certainly the case for the Least Developed Countries. They, more than others, need assistance to give their people access to clean water, clean cooking, a decent education and basic health care. Most of all, they need power for their vital economic sectors, to create jobs and to support local businesses.

This is why the European Union has identified the energy sector as a key driver for inclusive and sustainable growth, and has put in place a comprehensive set of actions.

Between 2014 and 2020, €3.5 billion of grants will leverage sustainable energy investments of up to €30 billion in generation, transmission and access, including through the new ElectriFI initiative, which will boost private sector investments by bridging gaps in project financing.

We have also built on strong political ownership in partner countries, which resulted in seven high level Joint Declarations with African countries on energy cooperation, reinforcing the ties between policy commitments and financial support - two of them were just signed this week in fact. In addition, the EU’s Technical Assistance Facility provides support to improve policy making and technical expertise in developing countries.

If we want to achieve the sustainable energy revolution, we need to build strong partnerships. The EU is ready to play its part and hope we others will share the same level of ambition.