EIB shelves vote on ending fossil fuel funding

The European Investment Bank has provoked outrage after postponing a scheduled vote on its future energy funding policy at a board meeting on Tuesday

The European Investment Bank (EIB) postponed a scheduled vote on its future energy funding policy at a board meeting on Tuesday, prompting renewed criticism from campaigners who accuse the European Commission and Germany of trying to torpedo a ban on financing gas infrastructure.

The EIB, the world's largest multilateral development bank, proposed in July to end all funding for fossil fuel infrastructure by the end of 2020. However, its Energy Lending Policy paper was subsequently revised to allow financing for gas projects in certain circumstances.

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