World Bank funding up for small investors, renewables

01/02/2006
New figures in the World Bank’s extractive industries portfolio show increased financing for small and local investors, renewable and natural gas industry lending, and transparency initiatives to reduce corruption, according to leaders of the multilateral lending institution’s oil, gas, mining, and chemicals department.“The oil and gas industry attracts a lot of funding. In countries that are stable, we are not needed,” noted Rashad Kaldany, director of the department at the World Bank and its affiliate, the International Finance Corp.“But in small to medium-sized countries, we feel we can help, particularly in addressing social and environmental issues that ...
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