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EU bank to stop funding fossil fuel projects in 2 years

Friday, November 15, 2019, 8:44 PM

The European Investment Bank said that it will stop financing fossil-fuel energy-projects from the end of 2021 as part of an effort to fight climate-change. The decision, which ends fossil-fuel funding a year later than initially proposed, follows lengthy negotiations among EU member states, the bank's shareholders. Environmental groups cautiously welcomed the EIB decision but warned that it contains some loopholes for some gas-projects.

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