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Well, the World Bank’s senior management has really done it this time: As my colleague Joel Meister reported today, Congress has reacted to its intransigence on carbon accounting and coal-fired power by deleting budgetary support for the Bank’s Clean Technology Fund. After c
The U.S. Congress today passed its omnibus appropriations bill for Fiscal Year 2009, H.R. 1105. Missing in action: the U.S. contribution to the World Bank's so-called Clean Technology Fund (CTF), which has repeatedly come under fire from CGD's David Wheeler and others for including coal-fired power plants among those potentially eligible for CTF support.
Even as President Obama breaks new ground this week on U.S. environmental policy, an upcoming vote by country members of the World Bank’s Clean Technology Fund Trust Fund Committee may perpetuate business-as-usual policies that subsidize coal-fired power plants and contribute to global warming. On Friday morning, the committee is scheduled to consider and approve investment criteria that include coal-fired power projects among “clean” technologies that are eligible for billions in MDB financing.