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Biggest China bank walks away from $3bn Zimbabwe coal plan

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China’s biggest bank has dumped plans to fund a $3-billion coal-fired power plant in Zimbabwe, in a blow to a two-decade effort to develop the project, according to a coalition of 32 environmental groups. Industrial and Commercial Bank of China told Go Clean ICBC, which includes environmental activist group 350.org, that it wouldn’t fund the 2 800 MW Sengwa coal project that RioEnergy, a unit of RioZim, is seeking to develop in Northern Zimbabwe.

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