Outage : Investment Shortfalls in the Power Sector in Eastern Europe and Central Asia
Before the onset of the global financial crisis in late 2008, countries in Eastern Europe and Central Asia (ECA) experienced strong economic growth. Demand for electricity increased steadily with gross domestic product (GDP). GDP grew, on average,...
Main Authors: | , , , |
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Format: | Publication |
Language: | English |
Published: |
World Bank
2012
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Subjects: | |
Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20110411012951 http://hdl.handle.net/10986/2284 |
Summary: | Before the onset of the global financial
crisis in late 2008, countries in Eastern Europe and Central
Asia (ECA) experienced strong economic growth. Demand for
electricity increased steadily with gross domestic product
(GDP). GDP grew, on average, 6.5 percent between 2000 and
2007, and electricity consumption per capita grew 2.75
percent. Meanwhile, energy security and supply reliability
were a growing concern for policymakers and planners.
Despite increased access to financing through the opening of
international financial markets, under-maintenance of old
soviet-era power sector infrastructure created a backlog of
critical investments threatening the stability of the
sector. As a result, a gap between demand and available
supply capacity was beginning to emerge. This report
analyzes the impacts of the financial crisis on power
sectors in the ECA region through the experience of five
countries (the study countries); Armenia, the Kyrgyz
Republic, Romania, Serbia, and Ukraine. The report's
objective is to help policymakers in the region plan and
prioritize electricity sector investments in the wake of the
financial crisis, and to provide a basis for future
discussions about World Bank assistance. |
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