Coal-based power in poor nations can't rely on World Bank anymore

07/17/2013 | ABC (Australia)

The World Bank said it will stop funding the construction of coal-fed power plants in poor nations unless no other workable energy sources can be found. The policy makes official the bank's shift away from fossil fuels since Jim Yong Kim took over as president, said Robin Davis of the Development Policy Center at the Australian National University. In the past five years, the World Bank has doubled its investments in renewable-energy initiatives.

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