World Bank Open to Support Mozambican Gas to Spur Energy Access
- Natural gas seen as cheap energy source in transition
- Mozambique, one of the poorest nations, has large gas reserves
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The World Bank will support the development of Mozambique’s giant natural gas resources if it’s the cheapest way to boost energy access in one of the world’s poorest nations, according to an official.
The Washington-based lender in 2019 stopped financing oil and gas extraction projects, aside from “exceptional circumstances” where projects in the poorest countries help connect more people to energy. Mozambique in 2021 had the sixth-lowest gross domestic product per capita globally, while less than one-third of its population of 32 million has electricity access, according to World Bank data.