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US Solar Energy Fund Pledges Money To Poor Countries

The American Government has pledged a US solar energy fund, with the help of international partners to spend $350 million over five years to help supply developing nations with green energy technology to help curb greenhouse gas emissions.

This new program will contribute to distribution of solar energy alternatives for homes in the world's poorer nations.





The funding plan grew out of the Major Economies Forum (MEF) - the world's top economic powers - earlier this year.

The US solar energy fund will amount to $85 million of this program with the remainder coming from Australia, Britain, Netherlands, Norway and Switzerland, spokesman Robert Gibbs said.

He also said President Barack Obama had assigned Energy Secretary Steven Chu to coordinate with partners in the MEF to insure immediate action on the program.

The White House said the US solar energy fund and it's partners "have been working to develop a suite of technology action plans, which lay out options for ambitious government action on 10 key clean energy technologies: advanced vehicles; bio-energy; building energy efficiency; carbon capture, use and storage; high-efficiency, low-emissions coal; industrial energy efficiency; marine energy; smart grid; solar energy; and wind energy."

Chu and four other members of Obama's Cabinet already talking to nations on the question of how much developed nations will contribute to poor countries to help them develop green energy technology to eradicate excessive emissions of carbon dioxide and other greenhouse gases.

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