Global efforts to provide universal access to electricity, develop more renewable energy sources and increase efficiency are not on track to meet a target date of 2030, the World Bank said Monday.

With fewer people receiving electricity for the first time in recent years, only 92 percent of the world´s population will have access to power by 2030, the bank said in a new report published together with the International Energy Agency. Universal access by the target date would require a five-fold increase in investment rates, it estimates.

Some 1.06 billion people lacked electricity in 2014, "only a slight improvement since 2012," the report said.

"If we´re to make access to clean, affordable and reliable energy a reality, action must be driven through political leadership," Rachel Kyte, special representative to the UN secretary general for sustainable energy, said in a statement.