The World Bank plans to restrict its financing of coal-fired power plants (KOL) to "rare...

|By:, SA News Editor

The World Bank plans to restrict its financing of coal-fired power plants (KOL) to "rare circumstances," according to a draft strategy that reflects the U.S.-led lender’s increased focus on climate change. “To the extent that you’re preventing the world from using coal, you’re preventing the U.S. from creating jobs to mine it and export it," the National Mining Association responds.