News and Events

08.29.2006
Umbrella Carbon Facility Completes Allocation of First Tranche

Washington, August 29, 2006—The World Bank today announced completion of the allocation of participation in the first tranche of the $1.02 billion Umbrella Carbon Facility (UCF), which has been established to purchase certified emission reductions from two industrial gas projects in China. The largest carbon finance deal ever is a windfall for sustainable development in China and a major opportunity for the private sector...

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