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• However, affordability is only one part of the challenge. Socio-cultural factors, including gender norms and house- hold perceptions about affordability also play an important role and need to be carefully considered. Maintenance and repair are also factors affecting long-term adoption by con- sumers. • For investors, there is a growing range of innovative options for financing clean cooking. Results-based financing options, including those funded through carbon credits, are a promis- ing route for unlocking new sources of investment, but need careful project design in each national context. • For development partners such as the OPEC Fund retain- ing an element of grant finance is important to help capaci- tate governments to lead the clean cooking transition and to support research and innovation. • Multi-stakeholder partnerships such as the OPEC Fund Climate Finance and Energy Innovation Hub have a pivotal role in bringing together expertise on different aspects of the clean cooking challenges with sources of innovative finance in support of national efforts.
For its part the OPEC Fund views clean cooking as a key pri- ority and an area of increased focus in order to support the development aspirations of its partner countries. The OPEC Fund is committed to working with a growing number of partner countries to support their national strategies in order to help make clean cooking a reality. The institution will de- ploy the knowledge and experience it has gained to date, as reflected in this report, and the know-how from its ongoing clean cooking operations to help its partner countries seize new opportunities emerging in this dynamic field.
AN OPEC FUND KNOWLEDGE SERIES REPORT 2024
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