The Asian Development Bank (A Development Bank) announced in its draft policy statement on Friday that it will no longer provide funding for coal mining or oil and gas activities. Multilateral development banks focused on eliminating poverty in Asia, but did not provide a timetable for their commitments. It also stipulates the conditions under which fossil fuel projects will continue to receive funding, such as the absence of other cost-effective technologies. Ni Yongping, head of ADB's energy department, said that the draft will be reviewed by the ADB's board of directors in October.

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The green organization earlier this week urged ADB to stop lending to the entire fossil fuel industry. Pedro H. Maniego Jr., senior policy adviser at the Institute for Climate and Sustainable Cities, said: "The draft coal ban policy is 10 years late, but it still helps Transitional energy creates economic justifications and helps prevent more stranded coal assets. 

"If the World Bank treats fossil fuels as bridges and transition fuels, it needs to specify a purpose," he added. ADB stated on its website, ADB was established in the early 1960s and headquartered in Manila. Since then, it has invested US$42.5 billion in the energy industry in the entire region. Editor/XuNing、Design/XiaChangwang