Once again, the World Bank is emerging as a key driver of transformation, albeit indirectly, by furnishing essential funding and financial resources to empower companies in making substantial investments in clean energy initiatives. The most recent development comes from Iberdrola, a multinational conglomerate set to deploy the granted 300 million euros across various projects.
These loans are intended to finance initiatives in countries like Morocco, Poland, and Vietnam. Notably, these nations exhibit a significant reliance on coal, as evidenced by the following data, sourced from ourworldindata.
Poland
- 90.63% of energy comes from fossil Fuel
- 41.84% of its energy comes from coal
- 33.82% of its energy comes from oil
Vietnam
Morocco
The influence of this loan is readily apparent, affecting not only the company and its financial success but also the countries that ultimately benefit from these clean energy projects, offering them an alternative and cleaner energy source.
For more information in relation to this loan we encourage you to rea the press release available here.
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