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Article

19 Apr 2010

Author:
Bretton Woods Project, Campagna per la riforma della Banca Mondiale, and Urgewald

[PDF] Fuelling contradictions: The World Bank’s energy lending and climate change

The World Bank’s energy and infrastructure lending is undermining its credibility as an institution committed to combating the impacts of climate change for the world’s poor, and its attempts to play a central role in managing global climate funds…[T]hree areas of continuing concern: fossil fuel lending continues to play a dominant role in the World Bank’s overall energy portfolio…[T]he Bank continues to make significant and growing investments in coal-fired power plants, locking developing countries into coal-based energy for decades to come…The Bank...[should be] supporting projects which are more directly related to its core mandate of reducing poverty and helping the 1.5 billion people without access to energy.

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