World Bank won't finance oil exploration

The World Bank (Bird) reported that after 2019 no longer finances projects for exploration and extraction of gas and oil, rare exceptions for countries with less developed interested in the benefits of access to energy. The information was given by the bank president, Jim Yong Kim, during the summit on climate change in Paris, France.

The goal is to limit global warming to 2 centigrade for the end of this century, aligning itself with the agreement of developing countries that have the same goal. The oil exploration currently represents 2% of the loan portfolio and loans made by the World Bank, which also reported that now 28% of its credits for 2020 will be focused on the climatic terrain.

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