In response to Ajay Banga first day as World Bank Group President, Claire O’Manique, Public Finance Analyst at Oil Change International, said: “Climate and environmental groups will hold Ajay Banga’s feet to the fire, as we did with previous World Bank Group President, David Malpass. Reversing the World Bank’s position as the top provider of … Read More
“Despite Malpass’s departure, the World Bank Group still funds more fossil fuels than any other multilateral development bank. Ending this support must be top priority ahead of the Bank’s Spring Meetings,” said Tucker.
Last week, civil society advocates from across the world convened outside the Washington DC headquarters of the World Bank to protest the Bank’s highly controversial financing of deadly fossil fuel projects.
Program Director Alex Doukas said, “David Malpass is a dreadful nominee for the World Bank President. Malpass was Chief Economist of Bear Stearns as the company led the economy off the cliff into a global financial crisis. That tells you all you need to know about David Malpass’ ability as an economic steward.”