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Journalism of Courage
Green loans
More than 10 billion dollars have been lent by the World Bank for environment projects all over the globe. Eighteen projects amounting to 902 million, and 10 agriculture, water, or urban development projects totalling 590 million were approved in the fiscal 1998. But the cumulative loans to this sector have tapered off. While the loans grew from 1890 million in 1990 to 11,600 million in 1997, the figure for 1998 was 10,930 million.
The bank says that this fall is due to some projects achieving completion. Therefore, the portfolio of active projects looks smaller. But these figures are still a tremendous improvement from 1986 when the World Bank had lent only 25 million for environment projects.
