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Friday, July 06, 2012

Obama Administration to Spend $20 Million on Green Energy Plan – For Africa

The U.S. government is spending $20 million to  “help clean energy projects in Africa get started,” such as wind farms and solar panels, Secretary of State Hillary Clinton announced at the recent Rio +20 Conference in Brazil, a step the government watchdog Judicial Watch criticized as wasteful given the administration’s track record in trying to pick green energy winners.

“The U.S.-Africa Clean Energy Finance Initiative will help clean energy projects in Africa get started,” said Clinton in her June 22 speech.  “This is an innovative partnership between three United States Government entities – the State Department, OPIC, and the U.S. Trade and Development Agency. We want to drive private sector investment into the energy sector.”

“We plan to use an initial $20 million grant fund to leverage much larger investment flows from OPIC,” she said.  “That will open the door then for hundreds of millions of dollars of OPIC financing, plus hundreds of millions of more dollars from the private sector for projects that otherwise would never get off the drawing board.”

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5 comments:

Anonymous said...

So let me get this straight. We just give 20 million bucks away and that will open the door to hundreds of million bucks of financing of our taxpayers money that they don't have to pay back. Makes sense to to me. For God's sake, get the Democrats out of there.

Anonymous said...

Making africa green is gonna make it better?

Daddio said...

Private money will flow in on its own without Gov't assistance on viable investments.

There is no need to spend taxpayer dollars on such projects, especially in other countries!

Anonymous said...

Hey Hillary...how about you give Wicomico County a 20 million dollar grant to build a bike lane from Salisbury to Ocean City, using the old railroad bed. That would make Wicomico County greener and bring thousands of dollars to the small towns along the route....Let Africa build their own solar panels

Anonymous said...

I always said once he was in office he would funnel money to his native land.