WB called on to reform its energy lending policy

  • 05/12/1998

  • Financial Express (New Delhi)

The World Bank, the public financial institution charged with the task of poverty alleviation and sustainable development, is under pressure to reform its lending policy when it comes to energy projects in developing nations. "The bank currently lends 25 times as much money for fossil-fuel energy projects as it does for renewables," said Daphne Wysham, lead author of a study on the World Bank's compromised role in mitigation of the Climate Change Treaty.