IMF

For Developing Nations, It's Solar, Wind and... Coal?

For Developing Nations, It's Solar, Wind and... Coal?Posted by Philip Higgs on April 24, 2006 - 8:15pm.

The IMF and World Bank wrapped up spring meetings in Washington, D.C. yesterday; among the outcomes was a declaration of "broad support" for investments to expand energy access in developing countries, where, according to World Bank president Paul Wolfowitz, around 1.6 billion people lack access to electricity. The good news: renewable sources like solar, wind and water are slated for increased investment - 20 percent per year. The bad news, according to the Sierra Club, the Institute for Policy Studies (IPS) and other critics of the proposal: Nuclear power, dams and so-called clean coal are a big part of the same package.



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