Untitled Document
Excon, Excon 2011 Biggest Construction Equipment Trade fair India.
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www.epcworld.in
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Global Brief |
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7/18/2009 1:57:00 PM |
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The World Bank and its subsidiary, the International Finance Corporation, will offer
Thailand $700 million in financial support to help develop renewable energy, said
a senior official. |
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The two organisations will finance development projects through the World Bank's Clean Technology Fund and the IFC, said Jitendra Shah, country sector coordinator at the World Bank.
The World Bank and the IFC will provide technology and support for loan applicants. They will also coordinate the market's clean development mechanism or carbon credit trading. The World Bank and IFC forecast the value of developing Thailand's renewable energy at about 156.49 billion baht from now until 2011. Private-sector investment will account for about 85% of the total investment, or 134.17 billion baht.
The agencies said the development of projects could cut total annual oil imports by 3.255 million tonnes, and cut green-house gas emissions by 10 million tonnes a year. Under the alternative energy plan, Thailand hopes to help reduce greenhouse gases by 20 million tonnes per year.
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