International Financing Denied for Thai Binh II Coal Plant
A leading U.S. Government finance agency, the Export-Import Bank, yesterday voted to deny financing for the polluting and inefficient Thai Binh II coal power plant in Vietnam based on environmental concerns. The decision reinforced President Obama’s recently released Climate Action Plan, which included a commitment to end US funding of coal plants abroad except for rare exceptions and coincides with yesterday’s World Bank decision to also end virtually all coal plant financing.