UK lends $22bn to small firms hit by coronavirus

UK lends $22bn to small firms hit by coronavirus

Energy investment to take big hit from pandemic, IEA forecasts. The fall in new spending on all energy sources is caused by the biggest ever fall in demand for energy. DUBAI: Global investment in energy is set to drop by 20 percent, or by nearly $400 billion, this year as demand plummets in the wake of the coronavirus pandemic, the International Energy Agency (IEA) forecast.. Global investment in oil and gas - forecast to fall by more than 30 percent - is the biggest element of the drop in energy investment, and will be felt by all producers.. Many national oil companies are now desperately short of funding," IEA said.. Most of the big independent oil companies have already announced plans to cut back near term investment.. Overall investment in cleaner energy sources will comprise 40 percent of the global total this year as the proportion spent on oil, gas and coal falls significantly. ".