New figures from the Bank Information Center reveal that the World Bank Group’s support for fossil fuels broke the $2 billion mark for the first time in fiscal year 2008, with the lion’s share doled out by the IFC. Fossil fuel financing for the Group as a whole rose 60% from fiscal year 2007 to 2008, while extractive industries financing rose a whopping 119% in the same period.

Chart of World Bank fossil fuel and extractive industry lending 2005-2008

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