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Asian Development Bank to fund closures of coal power plants

Asakawa says move would shut facilities five or 10 years earlier than planned

Exhaust billows from a coal-fired power plant in Suralaya, Indonesia: The Asian Development Bank plans to set up funds to finance the early retirement of such plants.   © Reuters

MANILA -- The Asian Development Bank plans to create funds, possibly next year, to facilitate early closures of coal-fired power plants in Southeast Asia. The new funds will buy such plants and take an active role in their management.

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