Argentina’s strategy to increase fossil fuel exports to ease debt burden ignores need for increased state investments and climate commitments.
Ghana left with $250 million bill for unused gas in 2019 primarily due to ‘take or pay’ clause in Bank-supported PPP contract.
World Bank supports hydropower building spree in Manipur, threatening local communities’ livelihoods in the process.
New energy policy sees European Investment Bank end support for unabated coal, oil and gas from 2021.
Move comes after concerted civil society campaign calling for ‘fossil-free EIB’.
Bank’s $3.75 billion loan in 2010 has failed to deliver reliable energy to South African users, despite eye-watering cost overruns.
Notes from the Civil Society Policy Forum event on 10 April, which looked at sustainable infrastructure from fiscal, rights and climate lenses.
Significant concerns also remain about environmental and social impacts of mega-infrastructure project partially financed by World Bank.
Bank commissions energy options study, which will explore alternate electricity sources.
A June petition signed by more than 120,000 people called on IFIs, “to immediately stop funding for projects that are located in protected areas.”