Electric power: essential infrastructure for development

Although the recent sharp decline in world oil prices has provided much needed relief to the hard pressed economies of most oil-importing nations, energy-related problems still preoccupy the minds of decision makers in most developing countries. The availability of adequate energy resources at a reasonable cost is still a vital precondition for continued economic progress, and the power sector in particular is acknowledged as an engine for growth. At the same time, most of the key energy issues identified during the past decade have not disappeared. For example, developing country energy investments still account for about 25 per cent of total public investments; oil importers are spending an average of 15-20 per cent of export earnings on petroleum imports; and serious fuelwood shortages and deforestation problems continue, especially in Africa and Asia. (author). 3 refs