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EU countries stall EIB plans to phase out funding for fossil fuels

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The European Investment Bank (EIB) on 15 October postponed taking a decision to next month on whether to phase out lending to fossil fuels, following objections from the European Commission and some EU Member States, including Germany, Italy, Poland and Latvia want the bank to keep funding certain gas projects to help the transition from coal or nuclear power, or for energy security reasons.

EIB President Werner Hoyer, who is committed to align all the EIB operations with the Paris Agreement …

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