The UK strongly support the Bank’s shift away from lending for coal fired power stations towards cleaner energy sources where there is a greater need for concessional lending. The Bank should focus where it can add most value such as support for low income countries, which have less capacity and access to finance. We want to see the Bank helping countries explore all reasonable alternative options before concluding that coal is the appropriate option. Where these are not feasible we want to see efforts being made to ensure the cleanest possible technology is used.
In his statement to the World Bank Development Committee the Secretary of State for International Development emphasised the Bank’s role to support the global climate change agenda by promoting energy efficiency and generation from renewable energy sources. He also indicated it should focus on the most valuable contribution it can make, such as leveraging finance for clean energy production.
A copy of the statement is available in the World Bank website at: