World Bank approves EUR 750mn energy efficiency loan for Poland.

By bne IntelliNews June 8, 2011
The World Bank's board of executive directors has approved a single tranche EUR 750mn loan for Poland, with a view to support the Polish government's programme to: decrease actual final energy consumption by 9% by 2016 and reach a 20% reduction target by 2020 compared to business as usual, the World bank has announced. The loan's other goal is to help Poland increase the share of renewable energy in final energy consumption to 15.0% by 2020. These targets are part of Poland's commitment to the European Union's energy and climate change package, it notes. According to the World Bank, Poland's energy use per unit of GDP has already decreased by more than 50% since 1990, as a result of bold structural reforms of the economy and in the energy sector. However, significant potential for efficiency gains still remains as Poland's energy intensity is double that of the EU average, it concludes. tom
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