The Daily Star: World Bank Secretly Funds Asian Coal Boom
The World Bank is indirectly financing a boom in some of Asia's dirtiest coal-fired power generation despite commitments to end most funding for the sector, a development advocacy group charged yesterday.
The power plants, which contribute to climate change and deforestation as well as premature deaths due to illness, are cropping up from Bangladesh to the Philippines, all with financing provided by financial intermediaries supported by the Bank, said a report produced by the organization Inclusive Development International.
Despite plans by several big banks to apply stringent conditions to funding coal-fired plants, coal use is rising in many parts of the world. Bank curbs won’t slow coal’s comeback is a post from: OurWorld 2.0
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Rights group says Bank indirectly financed coal projects despite pledges to cut support over environmental concerns.