A top Chinese bank with a global portfolio including fossil fuel extraction, has tentatively agreed to stop financing the controversial Sengwa coal project in Gokwe after bowing to civic pressure.

In a communique following the postponement of a meeting by Affected Communities of the Industrial and Commercial Bank of China ICBC’s Coal Finance, Go Clean said it had recorded marked progress in negotiations with the bank.

“There have been some major campaign developments regarding our engagement with the Industrial and Commercial Bank of China (ICBC). These developments include the Bank’s continued dialogue with the Go Clean ICBC coalition to chart a clear road map for ICBC to stop funding coal.

“For these reasons, the Go Clean ICBC coalition made the difficult decision to postpone the Affected Communities of ICBC’s Coal Finance AGM and instead continue with the dialogue,” said Go Clean.

“ICBC also confirmed that they will not fund the Lamu coal project in Kenya as well as the Sengwa coal project in Zimbabwe.