The dirty mortgage the world Bank

What forces of nature can do, know that in these days no one better than the inhabitants of the port city of Beira in Mozambique. Since the cyclone Idai parts of the country hinwegzog, Beira, largely in ruins. 600 people died alone, in Mozambique, the Cholera from spreading.

climate scientists expect that such cyclones are more frequent when the climate warms further. It also Moçambique itself could have its humble share. And also the world Bank – although committed to the least so, according to the climate protection.

According to research by the German development organization Urgewald and the consortium of investigative journalists, the world Bank is invested with all of her daughters are still a lot of money in fossil fuels. So had been paid in the financial years 2014 to 2018, a total of 12 billion dollars in Oil, Gas or coal, but only $ 5 billion in renewable energy. Your entire energy portfolio includes $ 21 billion for fossil, but only 7 billion for renewable energies such as Wind or sun.

The world Bank, whose members will meet today for the spring session, rejects the allegations. Last year alone, they have provided for the protection of the climate 20.5 billion dollars, as much as never. 10 billion were invested in clean energy. "Nothing of the Urgewald Report reflects," says a spokesman.

Many of the loans with maturities of up to 35 years. That is to say the relics of world Bank policy. But there are also young projects. Only on second look they prove to be fossil promotion. In Mozambique, for example, which sits on vast quantities of coal, gave the world Bank a loan to fight poverty – but under coal-friendly conditions: There was a concern, the Report from world Bank documents cited, that the state be charged in case of mines, "potential investors is extremely high and investment deterrent". In the end it was for coal investors tax cuts and a lower state tax.

money for richest African

previously granted by the private banking Arm of the world Bank, the International Finance Corporation (IFC), a lush credit for the construction of a coal train to the port of Nacala. Thus, the coal is to be for the export product for Mozambique. The commodity revenues, the world Bank says would have "tremendous potential in the fight against poverty". However, the exports have enormous climate potential.

The construction of a refinery in Nigeria, the richest man could count in Africa at the world Bank: $ 150 million loan to the IFC for the construction of a refinery of the entrepreneur Aliko gave Dangote. However, the money had not gone directly for the refinery, emphasizing the world Bank – but for the production of fertilizers in the plant. We expect this to help Nigeria's agriculture, says a spokesman. If Dangote separates the different parts of its refinery so clear, however, is not known. At the same time, IFC is involved in the research, according to at least five banks, the Dangote money for the huge refinery have borrowed.

There are hidden, often indirect subsidies, the not-at-all to the recent confessions of the world Bank fit. Only last month, the former interim President, Kristalina Georgieva, warned, in an Interview prior to the dramatic effects of global warming. "How can we talk of development if we destroy the ecological foundations?", she had asked for.

nevertheless, the world Bank, in Guyana, in front of its coast, Exxon has found Oil money to the government for the management of the Oil resources. Pure "technical assistance" is: "This aid does not Finance the extraction of Oil or Gas." Critics of the Bank see this as a feint, for the field prepare. Now the small country is well on its way to become the second largest Ölnation of South America.

(editing Tamedia)

Created: 10.04.2019, 21:18 PM