USA: Ex-Im Bank rejects Coal-Fired Plant in Vietnam

The Export-Import Bank of the United States has rejected a proposal to provide financial aid for a new coal-fired power plant in Vietnam.

The bank's board of directors cites the project's will  likely have an adverse effect on global warming in its vote on Thursday.

President Barack Obama said last month that the U.S. will no longer support building coal-fired power plants abroad as part of an effort to curtail global greenhouse gas emissions.

The bank says in a statement that the vote against the Vietnam project came after “careful environmental review” of the project's expected greenhouse gas production.