text: InfernaLional Finance Corporaeion (IFC'|. &/ During fiscal years 1985-1989. about $100 tnilllon in ecuity capital will be connitted to oil and gas exploration, and about $250 nillion in equity investment and loans will be expended in areas relatedto non-hydrtrarbon energy (valued in l9g3 prices). ft is also envisioned that tatein the period, a further $30 nillion in eouity and $120 nillion in debt capitalwil-l b€ nade available for further delineation and development of explorationprojects that have proved successful. Thus, about $500 ntllion uill be comnittedto enerqy over the five years. fFC estinates that these funds will contribute toprojects havinq total. capital expenditures of about $3 billion tso $4 billion. The programne emphasizes equity inveslrnenl in hydrocarbons expl-oration and is focused, in terms of forn of financing, energy source and stage of the production cyc1e, to make an important contribution to lhe developnent of energy resourcee in developing countries. 65, Unfortunately, the amount of financing projected is dwarfed by the nagnitudeof tbe problen. The $100 nillion per year of incremental capital which the IFC prograrnne rrill contribute during the 1985-L989 period compares wi!h an external financing deficit in enerqy confroncing the developing countries over the rest of the century tha! is lrell over I0 times this figure. 2/ Also, the prograrnne does not provide financing directly Eo the national oil conpanies of developing countries although these companies frequenlly play a najor role in the provision of national energy suppl. i es. 66. Elenenls of the United Nations systen have also acted during the last year to encourage the developnent and use of new and renewable sources of energy (NRSE) by convening consultative rneetings as one mechanlsm for mobilizing additional financial resources. For exanple. a global consuleative meeting to consider NRSE projects was beld in New York from 13 to 15 March 1985. During the meeting -
analysis: The text discusses the investment plans of the InfernaLional Finance Corporaeion (IFC) in the energy sector, with a focus on oil and gas exploration, non-hydrtrarbon energy, and the development of energy resources in developing countries. The text also mentions the need to encourage the development and use of new and renewable sources of energy. This suggests that the category should be related to energy, natural resources, and economic development.