World Bank’s IFC Drops Funding Plan for Gujarat Waste-to-Energy Initiative

Daily Current Affairs / World Bank’s IFC Drops Funding Plan for Gujarat Waste-to-Energy Initiative

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Category : Miscellaneous Published on: February 28 2025

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The International Finance Corporation (IFC) has denied a loan of $40 million (approximately 346.45 crore rupees) to Abellon Clean Energy Limited (ACEL) for four proposed waste-to-energy (WTE) plants in Ahmedabad, Rajkot, Vadodara, and Jamnagar.
After local communities, activists, and organizations highlighted negative impacts such as air and water pollution, health issues, and violations of Indian laws, the IFC confirmed on February 17, 2025, that it has withdrawn from the project.