Monday, August 8, 2011

The World Bank Encourages Asian Firms to Light up African LED Market

According to a local industrial group, Asian companies are encouraged by the World Bank to pursue commercial opportunities in the African LED lighting market in support of the group's program to light up the continent.

Rodd Eddy, an International Finance Corp. (IFC) consultant, disclosed that,because the island was among the world's largest LED and photovoltaic goods makers, the World Bank hoped Asian companies would participate in the "Lighting Africa" program. The IFC also expected Asian producers would provide cutting edge LED lighting technology to the region.

As a member of the World Bank Group, and the World Bank jointly run Lighting Africa, IFC is expected to generate about US$10 billion (NT$289 billion) in business for suppliers, including those in Asia.

According to IFC, the program is mobilizing the private sector to build sustainable markets to provide safe, affordable and modern off-grid lighting to 2.5 million people on the continent by 2012 and to 250 million people by 2030. and IFC provides investment and advisory services under to help the private sector in developing countries.

Besides, the program will assist Asian companies in getting their lighting products certified and serve as a bridge between them and African dealers.

So far, two Asian firms have sought certifications for their products ,expecting to become part of the supply chain under the program.

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