U.S. Plans $20 Million Grant for Africa Energy, Clinton Says

Secretary of State Hillary Clinton said the U.S. will provide $20 million in grants for clean- energy projects in Africa, funds that will unlock additional loans from the Overseas Private Investment Corp.

“Investors in this space often see obstacles and risks that stop them from investing in this clean-energy space,” Clinton said at a briefing in Rio de Janeiro today. “If we remove some of the risks and cover some of the costs we can spur significant investment.”

The funds add to $2 billion the U.S. set aside last year to support clean-energy projects in developing countries, Clinton said.

To contact the reporter on this story: Reed Landberg in London at landberg@bloomberg.net

To contact the editor responsible for this story: Will Wade at wwade4@bloomberg.net

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