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Press Releases & Media Infos

Media Briefing

Is the World Bank going green?

Washington, D.C. / Berlin 06.06.2023

The Bank invests billions in fossil fuel projects, including through various opaque channels. Unless this changes, its soul-searching will count for little.


The moment has come: today Ajay Banga takes office as World Bank President. The U.S. nominated the top executive at the end of February following the surprise resignation of David Malpass. Since the founding of the Bretton Woods institutions, as the World Bank and International Monetary Fund (IMF) are known, it has been accepted that the U.S. appoints the head of the World Bank, while European countries pick the leader of the IMF. This undemocratic practice continues to this day. There was no opposing candidate – let alone a female opponent. Despite strong criticism from civil society, on May 3, the 25 World Bank Executive Directors from the 189 member countries, including Germany, cleared the way for Banga after he had spent the last months holding talks in many countries.

Press Release

The environmental and human rights organization Urgewald together with 14 NGO partners published a comprehensive update of the AIIB-Watch. The website examines the projects of the Asian Infrastructure Investment Bank (henceforth: “AIIB”) for human rights violations, forced resettlement and environmental damage. An interactive map lists a total of 24 cases where the AIIB is failing to meet key protection standards.

Press Release
  • Investors and banks still holding onto Wintershall Dea, despite its continuous operations in Russia and no plans to transform its obsolete 100% fossil business model

  • Ukrainian and German NGOs publish research on the financing of Wintershall Dea’s oil and gas business

  • Financial institutions called out to cut ties with Wintershall Dea – also in view of potential IPO