Nations Leave 91 Percent of Green Stimulus Funds Unspent

 

Administrative hurdles remain for the majority of developers, with just 9 percent of the total funds having been disbursed from economic-stimulus programs designed to pull economies out of recession, according to the study by New Energy Finance, a London-based consulting firm. Photo Courtesy of Green Mode.

The United States, China and major economies around the world are still holding about 91 percent of the $177 billion in stimulus money promised for clean-energy development because most projects haven't been evaluated, a report showed. Although our government may have good intentions with the stimulus, sometimes red tape and bureaucracy can slow down the recovery process.

''The process of disbursement has been a sobering experience,'' said Anna Czajkowska, an analyst and author of the study. ''Drafting the disbursement rules and requirements is taking more time than most of the governments expected,'' she wrote in the report. - Courtesy of Bloomberg News