Overseas aid to Africa being outweighed by hefty costs of importing oil

guardian.co.uk — Sub-Saharan states need to move to renewable energy sources as $15bn in aid is outstripped by $18bn in oil imports, says IEADeveloping countries in Africa received less in overseas aid last year than they paid for oil imports, new figures show.Sub-Saharan Africa received about $15.6bn (£9.7bn) in overseas development aid last year, but this was outweighed by the $18bn cost of importing oil, according to the figures compiled by the International Energy Agency and seen by the Guardian.A decade of soaring oil prices has created huge problems for development efforts in countries whose attempts to industrialise have left them heavily dependent on fossil fuels.
Overseas aid to Africa being outweighed by hefty costs of importing oil t.co/bP1k7AsU <IEA on need to move to renewables