Ex-Im Bank rejects coal-fired plant in VietnamJuly 18, 2013 @ 12:29 pm
WASHINGTON (AP) - The Export-Import Bank of the United States has rejected a proposal to provide financing for a new coal-fired power plant in Vietnam.
The bank's board of directors cites the project's likely effect on global warming in its vote on Thursday.
President Barack Obama said last month that the U.S. will no longer support building coal-fired power plants abroad as part of an effort to curtail global greenhouse gas emissions.
The bank says in a statement that the vote against the Vietnam project came after "careful environmental review" of the project's expected greenhouse gas production.
Environmental groups call the vote on the 1,200-megawatt plant the first test of whether the administration will follow through on Obama's pledge, made as part of a wide-ranging call for action to reduce global warming.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Check out the first clip of the new Jimi Hendrix biopic
Pike Place Market has unveiled plans for a $65 million upgrade
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.