watching Government - Extractive futures

06/28/2004
The World Bank Group's (WBG) extractive industries section June 18 said it plans to dramatically change its lending practices for developing nations looking to expand oil, natural gas, and mineral production.Officials rejected calls by some environmentalists, human rights groups, and an independent WBG auditor to stop funding oil projects. But WBG did pledge to focus more on gas projects in the future. The public can comment on the draft report for 30 days before the WBG board moves to formalize its plan.Oil and gasWBG's Rashad Kaldany, director of the oil, gas, mining, and chemicals department, said the bank plans to be more selective with projects by looking much more carefully ...
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