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Jubilee Statements

Monitoring the impacts of government and corporate behaviour in communities overseas.

New loan for coal power plant in Philippines opposed

Release Date: 24-Aug-2009

Jubilee Australia's colleagues in the Philippines, Freedom from Debt Coalition, expressed strong opposition against the approval of the USD120-million loan of the Asian Development Bank (ADB) for the construction of a coal-fired power plant in Cebu, Philippines. "The impending ADB approval validates the financial institution's horrible track record in funding the private sector’s past and ongoing projects that contributes to climate change," it said in a statement.