FOR IMMEDIATE RELEASE
By Pacific Environment, Friends of the Earth, Oil Change International and Groundwork
On July 15, the U.S. Export-Import Bank (Ex-Im Bank) board is scheduled to reconsider an application to provide hundreds of millions of dollars in financing to India’s Reliance Power Ltd. for the 4,000 megawatt coal power and mine project. Three weeks ago, the board appropriately rejected financing for Sasan based on its massive carbon dioxide emissions. The project would generate some 26 million annual tons of CO2, more than the bank’s annual emissions for all fossil fuel projects approved by Ex-Im Bank in 2009.