It is official now: The World Bank will not support the ‘New Kosovo’ Power Plant

The Executive Director of Balkan Green Foundation, Visar Azemi, and Burim Ejupi from Institute for Development Policy (INDEP), are participating at the International Monetary Fund and World Bank Group Annual Meetings in Bali, Indonesia. These meetings bring together central bankers, ministers of finance and development, private sector executives, civil society, media and academics to discuss issues of global concern, including the world economic outlook, global financial stability, poverty eradication, jobs and growth, economic development, aid effectiveness and climate change.

During an interactive townhall event with representatives of Global Civil Society Organizations the International Monetary Fund Managing Director, Christine Lagarde, and World Bank Group President, Jim Yong Kim, discussed a wide range of development topics with civil society.

Among others, when Mr. Azemi addressed a question to Mr. Kim regarding the World Bank’s position on supporting coal in Kosovo, Mr. Kim confirmed that the World Bank has made a very firm decision to not support the “New Kosovo” coal power plant in Kosovo. Mr. Kim stated that “We are required by our bylaws to go with the lowest cost option – and renewables have now come below the cost of coal. So, without question we are not going to do that.”

Click on the link,  to hear the discussion in question: https://goo.gl/h2YUnm

Now, we call upon EBRD and other IFI's to declare whether they will follow the same action as World Bank, and support the transition towards the usage of renewable sources for energy production, while phasing out fossil fuels!

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