Global Renewable Fuels Alliance dings World Bank

The Global Renewable Fuels Alliance (GRFA) representing over 65% of the world’s biofuels production from 44 countries wrote to the head of the World Bank regarding that organization’s lack of support of bioenergy.

“I am writing to you to express our deepest concern that the World Bank is failing developing countries in their desire to develop sustainable biofuels industries and relieve their crippling reliance on imported crude oil. Your Bank remains on the sidelines without any commitment to investing in biofuels projects while many developing countries look for scarce capital to build local projects.

“Mr. Zoellick, according to World Watch, thirty-eight of the forty-five poorest countries on earth are net importers of crude oil yet many of these underdeveloped countries possess vast amounts of biomass and potential for sustainable biofuels production. The crude oil price increases in 2008 wiped out all the debt relief commitments made to developing countries over the past decade and future crude oil price increases will permanently impair most developing countries from reaching their full potential.”

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