Environmental group applauds Exim bank's decision on Sasan

An environmentalist group has applauded the Exim Bank of the United States for its decision to not to finance Reliance’s coal-fired power plant in Sasan in Madhya Pradesh on the grounds that it would emit too much carbon dioxide, thus detrimental to the environment.

“This is an extremely important precedent because it’s the first time the US Exim Bank has declined the financing of a project that is harmful to the climate,” said Doug Norlen, Policy Director for Pacific Environment.