The West prevents financing of energy projects in developing countries- Russian official

Washington, SANA- Roman Marshavin, the Russia’s official at the World Bank, affirmed that the West prevents financing energy and gas projects in developing countries, but it finances them in its own countries.

“The World Bank shareholders from Europe and North America tend to prevent financing for some gas and energy projects in developing countries, due to alleged climate issues, but they finance such projects within their countries.” Sputnik quoted Marshavin as saying.

Marshavin pointed out that European consumers take most of the gas and other energy resources from developing countries to meet their own needs, noting that this policy leads to a contradictory situation, as countries that possess huge gas reserves cannot obtain financing to develop their gas sector and address the problem of access to a cheap and reliable source of electricity.

Fedaa al-Rhayiah /MHD Ibrahim