Look East policy

Business Briefs

China’s biggest bank abandons US$3bn coal project in Zimbabwe

CHINA’S biggest bank has dumped plans to fund a US$3-billion 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…