U.S. Toughens Conditions to Back Development Coal Loans
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Development banks such as the World Bank or the African Development Bank will need to meet more stringent criteria to obtain U.S. support for coal-fired power plants abroad under new guidelines released today.
Only projects in very poor nations that have no economically feasible alternatives, or in emerging markets that use carbon capture technologies, will get U.S. backing under the new criteria. The conditions aim to implement an aspect of President Barack Obama’s climate action plan released in June.