The Global Energy Transition Offers an Opportunity to Boost Growth in South Asia

October 30, 2023--Despite solid growth, South Asia faces a risky outlook, says the World Bank in its latest regional economic update, urging countries to fully capitalize on the global energy transition to help boost growth. Toward Faster, Cleaner Growth is the subject of a two-day conference organized by the BRAC Institute of Governance and Development (BIGD) and the World Bank.

Opening today, the conference is a platform for academics, experts, and researchers to discuss the opportunities and challenges the region faces in pursuing green growth.

Constrained by slowing growth and fiscal challenges, South Asia's governments have limited room to help their economies make the most of the global energy transition. The global energy transition presents an opportunity to boost productivity and investment, create jobs, cut air pollution, and reduce reliance on fuel imports. Even with limited fiscal space, countries can encourage firms to adopt more energy-efficient technologies through market-based regulations, information campaigns, broader access to finance, and the provision of reliable power grids.

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