Otherwise known as the World Bank. The World Bank provides loans and development assistance to middle-income and lower-income countries with a stated aim of reducing poverty. Loans generally have a five-year grace period and must be repaid over a period of 15-20 years. The Bank obtains most of its funds through the sale of bonds in international capital markets and whilst not a profit maximizing organisation, has earned net income every year since 1948.
World Bank & IMF in the news
Despite the World Bank’s commitment to move away from funding coal, a series of loopholes in its financial intermediary lending remain that will continue to allow finance to support coal power projects.