Taxpayer dollars create state-owned bank to build coal-fired power stations

The Coalition Government has used taxpayer funds to create a state-owned bank that is to finance new coal-fired power plants in developing countries.

This will help to increase demand for coal for new mines for decades.

World Bank to stop funding coal-fired power stations https://t.co/027TO65B7I via @ABCNews

— Askgerbil Now (@Askgerbil) June 20, 2016

Media Release by Treasurer Joe Hockey, 24 June 2015

Australia to join the Asian Infrastructure Investment Bank

"Joining the AIIB presents Australia with great opportunities to work with our neighbours and largest trading partner to drive economic growth and jobs [or JOBS and GROWTH].
...
Australia will contribute around A$930 million as paid-in capital to the AIIB over five years and will be the sixth largest shareholder."

Asian Infrastructure Investment Bank (AIIB) expected to fund new coal-fired power plants http://t.co/NocK4zJgu3 https://t.co/FvRMR7qPfh

— Askgerbil Now (@Askgerbil) June 24, 2015

Indonesia praises the Aus taxpayer-funded AIIB's readiness to lend for coal-fired power https://t.co/XfybLa1MWE #thedrum #climate #ausvotes

— Askgerbil Now (@Askgerbil) May 31, 2016

India Looks Forward to AIIB Financing for Coal-Fired Power Plants https://t.co/9nkxC4zWVN

— Askgerbil Now (@Askgerbil) June 20, 2016