ENERGIZING FINANCE REPORT 2024

The report reveals a decline in international public finance for energy access, with electricity commitments peaking in 2018 and clean cooking funding showing extreme volatility. Significant regional and developmental disparities exist, with a heavy concentration of funds in a few countries like India, China, and Bangladesh, and a predominance of debt-based financing over grants. Case studies of Bangladesh and Kenya highlight that while both achieved significant access gains through concerted policy and financial efforts, they face ongoing challenges with system inefficiency and affordability.

• International public finance commitments to the electricity sector peaked in 2018 and have not returned to those levels, with 2022 marking the largest decline in eight years.
• There are strong regional disparities in electricity finance; between 2014 and 2022, five Asian countries received 1.8 times more ODA commitments than 15 tracked Sub-Saharan African countries.
• Electricity financing is heavily skewed toward low- and middle-income countries (LMICs) over least developed countries (LDCs), with five LMICs receiving 55% of total cumulative commitments compared to 45% for 15 LDCs.
• Debt financing, specifically ODA loans and non-export credits, is the primary instrument for electricity, while grants and equity investments account for only 10% of commitments.
• Mini-grid investments are highly concentrated, with the top five countries receiving 79% of total commitments; India alone accounted for 51% of the total for all 20 tracked countries.
• Clean cooking commitments are highly volatile, peaking at USD 309 million in 2020 before dropping sharply to USD 27 million in 2022.
• Clean cooking finance is dominated by China, which attracted 60% of all commitments between 2014 and 2022, largely due to a single LPG programme.
• LPG fuels and distribution dominate clean cooking investments, accounting for 74% of total funding, while market support activities received only 1%.
• Multilateral Development Finance Institutions (DFIs) are the primary source of clean cooking finance, providing 87% of cumulative commitments.
• Bangladesh and Kenya both significantly increased electricity access since 2000 through a combination of political will, dedicated rural electrification entities, and grid fortification, though both still suffer from high system-level inefficiency.

APA

Sustainable Energy for All (2024). ENERGIZING FINANCE REPORT 2024. https://www.seforall.org/system/files/2024-11/seforall-report-ef-2024.pdf

Chicago

Sustainable Energy for All. ENERGIZING FINANCE REPORT 2024. 2024. https://www.seforall.org/system/files/2024-11/seforall-report-ef-2024.pdf.

Wikipedia

{{cite report |author=Sustainable Energy for All |title=ENERGIZING FINANCE REPORT 2024 |date=2024 |url=https://www.seforall.org/system/files/2024-11/seforall-report-ef-2024.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{sustainableenergyforall2024energizing, author = {{Sustainable Energy for All}}, title = {{ENERGIZING FINANCE REPORT 2024}}, institution = {Sustainable Energy for All}, year = {2024}, url = {https://www.seforall.org/system/files/2024-11/seforall-report-ef-2024.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }