#environment - It’s double standard for the World Bank to stop supporting coal but continues to support a power plant that powered by coal. Can’t have it both ways.
The World Bank-created and financially backed Indonesia Infrastructure Guarantee Fund (IIGF) awarded its first government guarantee of US$33.9 million to the Central Java Power Project, a 2000 MW ultra-super critical coal plant. The Bank states that the guarantee is critical for obtaining long-term infrastructure finance. Moreover, the WBG served as the transaction advisor to this mega coal project, in which role the Bank arranged financing for the project, promoted the project to investors, and supported the project’s expansion to become one of the largest coal plants in Southeast Asia.
The way it looks right now; the World Bank is in desperate need of major shake-up with the way it’s being run and managed.
Source:Price Of Oil