"The World Bank's board on Tuesday agreed to a new energy strategy that will limit financing of coal-fired power plants to 'rare circumstances,' as the Washington-based global development powerhouse seeks to address the impact of climate change."
"The Bank will amend its lending policies for new coal-fired power projects, restricting financial support to countries that have 'no feasible alternatives' to coal, as it seeks to balance environmental efforts with the energy needs of poor countries.
The impact of this energy strategy may not be seen immediately, since bilateral donors and the private sector will still continue to finance coal. Some analysts hope the new strategy could send a signal that coal is a risky investment and prompt countries to turn to alternative energy sources."
Anna Yukhananov and Valerie Volcovici report for Reuters July 17, 2013.
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