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For India, China-backed lender may be answer coal investment

2014-11-05 15:03:00| Climate Ark Climate Change & Global Warming Newsfeed

Reuters: India is hoping a new China-backed multilateral lender will fund coal-based energy projects, an official said, putting it in direct conflict with the World Bank, whose chief has maintained that it would stick to its restrictions on such lending. A senior Indian official told Reuters the Asian Infrastructure Investment Bank (AIIB), sponsored by China, is expected to allow funding of coal-fired power plants that the World Bank has almost totally blocked. "When you have 1.3 billion people starved...

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