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Fossil Fuels (International Funding)

International Development written question – answered on 29th June 2005.

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Photo of Andrew George Andrew George Shadow Secretary of State for International Development

To ask the Secretary of State for International Development how much has been invested in (a) fossil fuel projects and (b) renewable energy projects by the (i) World Bank Group, (ii) European Bank for Reconstruction and Development, (iii) European Investment Bank, (iv) Asian Development Bank, (v) African Development Bank and (vi) Inter American Development Bank in each of the last five years.

Photo of Hilary Benn Hilary Benn The Secretary of State for International Development

holding answer 23 June 2005

The following summary table details investment in fossil fuel and renewable energy projects across the major multilateral development banks in the last five years.

Multilateral development bank renewable energy and fossil fuel investments: financial year 2000–04 -- US$ million
Sub-sector 2000 2001 2002 2003 2004
World Bank Group
Renewable energy 764 26 349 342 272
Coal (incl mine closure) 51 111 194 75 160
Oil and gas 490 592 601 448 415
Power 1,163 1,169 1,555 852.2 570.2
Other energy sub-sector 176 175 55 170 128
Total fossil fuel 1,880 2,047 2,405 1,545 1,273
Energy efficiency and district heating 254 189 37 68 48
European Bank for Reconstruction and Development
Renewable energy 0 16 0 0 0
Coal (incl mine closure) 0 0 0 72 0
Oil and gas 142 27 153 35 124
Total fossil fuel 142 27 153 108 124
Energy efficiency and district heating 21 64 92 121 242
European Investment Bank
Renewable energy 78 206 734 375 459
Coal (incl mine closure) n/a n/a n/a n/a n/a
Oil and gas n/a n/a n/a n/a n/a
Total fossil fuel 285 285 285 285 669
Energy efficiency and district heating n/a n/a n/a n/a n/a
Asian Development Bank
Renewable energy 58 6 161 0 0
Coal (incl mine closure) 0 0 0 0 187
Oil and gas 0 0 73 0 0
Total fossil fuel 0 0 73 0 187
Energy efficiency and district heating n/a n/a n/a n/a n/a
African Development Bank
Renewable energy 102 79 2 0 0
Coal (incl mine closure) 0 0 0 0 0
Oil and gas 0 0 115 82 0
Total fossil fuel 0 0 115 82 0
Energy efficiency and district heating n/a n/a n/a n/a n/a
Inter-American Development Bank
Renewable energy 338 186 3 14 75
Coal (incl mine closure) 0 0 0 0 0
Oil and gas 713 192 0 0 0
Total fossil fuel 713 192 0 0 0
Energy efficiency and district heating n/a n/a n/a n/a n/a

Notes:

1. Figures shown are commitment amounts and not disbursements.

2. Renewable energy is generally defined as hydropower, wind, solar, geothermal and biomass projects.

3. Sub-sector project definitions may vary across institutions and are not directly comparable.

4. Although projects are in fossil fuel sector, this does not necessarily imply a net increase in fossil fuel use. More efficient fossil fuel investments will displace other inefficient fuel or production methods.

5. Coal projects include costs to close mines in an environmental and socially acceptable manner.

6. Figures excludes sole technical assistance projects although technical assistance is a component of loans described.

7. Figures exclude projects solely to support power transmission and distribution.

8. World Bank renewable energy projects include IBRD/IDA/IFC commitments, MIGA guarantees, Bank GEF projects and IBRD carbon finance.

9. EIB investments are for EU members, and also two projects in Swaziland and Morocco.

10. ADB, AfDB, EIB and IDB energy efficiency project information not shown in table.

11. The energy efficiency component of EBRD industrial projects was not recorded before 2002.

12. EBRD and EIB lending figures converted to US$ at $ per Euro 1.205.

13. AfDB figures converted from Unit of Account to US$ at $ per UA 1.4752.

14. IDB loans include loan amounts placed by IDB Private Sector Department with other lenders.

15. IDB renewable energy includes investment in cogeneration facilities.

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