There has been lot of pressure on the World Bank of late. A recent tribunal in New Delhi recently came down heavily on the institution. Now it is been challenged by more than 70 European NGOs which say they "have fundamental concerns about the way the Bank operates". The organizations backing the campaign are calling European governments to press the bank to take a second look at its fossil fuel lending. It's also called for lesser strings attached to Third World loans.
The site under review is the campaign site for these organizations. "The climate change emergency requires action before it's too late. The bank remains one of the main public financiers of fossil fuel development which contributes massively to global warming and is destined largely for Northern consumption and multinational profits. It should immediately start a complete phase out of financing for fossil fuel operation...and should significantly scale-up support for renewable energy," the site notes.
The site has a signature campaign which argues that funding of large fossil fuel projects like Chevron's Chad-Cameroon oil pipeline do not provide job opportunities for local communities, and also do not help local governments gain energy security. The campaign is significant because later this year, donor governments will negotiate replenishment of funds to the International Development Association, the arm of the Bank that disburses aid.
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