Middle East Economic Survey

VOL. XLVII

No 32

09-August-2004

ENERGY FINANCE

World Bank Group To Continue Financing Extractive Industries

The Board of the World Bank Group announced on 3 August that it would continue investments in oil, gas and mining production, despite recommendations made earlier this year that it stop doing so on the grounds that these projects did little to avert poverty, help the local communities and were damaging to the environment. The board said that it would continue to...