The aid money is part of the United States’ contribution to the United Nations Sustainable Energy for All initiative, which was launched last year. United Nations Secretary General Ban Ki-Moon announced during this week’s Rio+20 U.N. summit on sustainable development that 50 countries have pledged $50 billion to the effort, which aims to double the share of global renewable energy by 2030.
“This initiative is already mobilizing significant action from all sectors of society,” Ban said at the summit, according to Reuters. “Working together, we can provide solutions that drive economic growth, expand equity and reduce the risks of climate change.”
{mosads}The U.S. share is $2 billion, in the form of public-private energy technology and grants, loans and loan guarantees to support the initiative. The $20 million in government funding is expected to unlock many times that amount in private investments, Clinton said.