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Final furlong for fossil fuel financing?
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The European Investment Bank (EIB) will stop lending to unabated fossil fuel projects from the end of 2021. It removes a crucial line of funding for gas and LNG projects, which have received billions of euros from the EU multilateral. In its draft ELP earlier this year, the bank had proposed ending funding from the end of 2020 – the delay highlights the contentious issues among EU Member States of phasing out fossil fuel financing, particularly in Central and Eastern Europe.
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