World Bank accused of incentivizing investments in fossil fuels through $5B policy loans portfolio

A new report has said the World Bank is contradicting its own climate change policies by funding policy reforms that effectively subsidize the coal industry in Mozambique, Indonesia, Peru and Egypt. The bank strongly denies the claim and says the Bank Information Center, who wrote the report, "grossly misrepresent" their engagement in the countries.

About the author

  • Sophie Edwards

    Sophie Edwards is a Reporter for Devex based in London covering global development news including global education, water and sanitation, innovative financing, the environment along with other topics. She has previously worked for NGOs, the World Bank and spent a number of years as a journalist for a regional newspaper in the U.K. She has an MA from the Institute of Development Studies and a BA from Cambridge University.