Bahrain to work with World Bank on energy efficiency programs
The agreement was signed by Bahrain Minister of Finance Ahmed Bin Mohamed Al Khalifa and Farrukh Iqbal, the World Bank’s director in the GCC countries.
Bahrain’s energy consumption numbers are among the highest rates per capita in the world, reaching 11,800 kilowatt hours in 2012. Annual electricity demand has been growing at around 10 percent over recent years.
That’s due in particular to Bahrain’s low electricity taxes and tariffs that do little to give residents incentives to use energy more efficiently. The Energy Efficiency Implementation Program seeks to reverse that rising rate of consumption by reducing inefficient energy consumption in residential, commercial and public buildings.
“The World Bank is leveraging its global expertise to support Bahrain in reducing the inefficient use of electricity through a sustainable national energy efficiency program,” Iqbal said. “The program will set energy efficiency incentives and targets, identify priority interventions, raise awareness, support implementation efforts and assist in performance monitoring.”