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Russia to grant $10 mln to G8 energy aid program

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Russia will contribute $10 million in 2010 to reduce global poverty through a G8 program to ensure accelerated access to modern energy services, a Finance Ministry official said on Monday.

Russia will contribute $10 million in 2010 to reduce global poverty through a G8 program to ensure accelerated access to modern energy services, a Finance Ministry official said on Monday.

"In 2010, $10 million will be transferred to the Global Village Energy Partnership [GVEP], an international nonprofit organization ensuring access to energy resources for the population of the world's poorest countries," Andrei Bokaryov said.

The program was adopted in 2006. Russia made its first contribution of $5 million in 2007. Russia is to contribute a total of $30 million.

"Today the partnership has expanded its outreach to 21 countries," Bokaryov said, adding that its focus was mainly on African countries south of the Sahara.

Within the program's framework, Russian hydroelectricity company RusHydro is considering building small hydroelectric power plants in Latin America.

Valery Sorokin, a member of the GVEP Board of Trustees and consultant of the Expert Administration of the Russian President, said the program could help businesses enter new markets and make Russian companies more competitive, especially in Latin America.

"This humanitarian aid opens access to business partnerships and creates opportunities for doing business; it is up to companies how they use this," he said.

MOSCOW, June 21 (RIA Novosti) 

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