|Updated: 11/24/2005; 11:43:46 PM.
Sustainable Energy for Development: People, organizations, and projects active in environmentally benign energy sources for developing countries.
Saturday, November 09, 2002
Renewable Energy Ex-Im Bank Controversy
: "Despite legislation passed in 1989 that requires the Ex-Im Bank to allocate at least five percent of their funds to Renewable Energy industries while providing annual information about their Renewable Energy funding efforts, the GAO found the bank's efforts lacking. Of the US$28 billion the Ex-Im Bank provided in loans and guarantees for energy-related projects from 1990 to 2001, 93 percent was used to finance fossil fuel projects while just three percent went to Renewable Energy projects, according to the GAO report. " Of that US$730m for renewables from 1990-2001, $395m was in two large geothermal projects in 1994 in the Philippines. Ex-Im claims its 2002 record was better, citing loans for exports to Nigeria, Turkey, India, South Africa and St. Lucia. 8:03:07 PM
Copyright 2005 © Ken Novak.
Last update: 11/24/2005; 11:43:46 PM.