World Bank Boosts Coal In Indonesia

The World Bank Group (WBG) is aiding an Indonesian coal-based power plant, one of the largest coal-fired power plants in southeast Asia, despite its propagated policy of discouraging coal.

According to a recently released report from the environmental group Oil Change International, the World Bank’s infrastructure program in Indonesia stipulates policies and government subsidies that promote the accelerated development of over 16 GW of coal power projects in the country ahead of developing feasible renewable alternatives.

The report “World Bank Accelerating Coal Development in Indonesia” [1] said:

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.

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Posted November 11, 2013 by repit in News

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