World Bank Fine Tunes Clean Energy Funding Proposal

Washington, DC [RenewableEnergyAccess.com] A World Bank proposal to its steering committee to create two new funds to help developing countries generate cleaner, more efficient power is misguided because it backs fossil fuel projects, experts said on Monday. A copy of the report obtained by Reuters argued that current financing from multilateral lenders like the World Bank as well as governments and the private sector “cannot lead to a meaningful transition to a low-carbon economy.”

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