Law360, New York (April 09, 2010, 12:35 PM ET) -- The U.S. has abstained from voting on the World Bank's decision to loan South Africa $3.75 billion to help build a coal-fired power plant out of concerns that the facility's greenhouse gas emissions would be too high.
The U.S. Treasury Department said Thursday that the loan to Eskom, South Africa's power utility, is going toward a project that is incompatible with the World Bank's “commitment to be a leader in climate change mitigation and adaptation.”
The department said the U.S. recognizes South Africa's pressing energy needs...
US Opts Out Of WTO Vote On $3.8B S. Africa Loan
To view the full article, take a free trial now.
