Euro NGOs Demand World Bank End Oil Aid

More than sixty NGOs from 16 countries across Europe launched a campaign today urging European governments to demand an end to World Bank spending on oil and other fossil fuels. The campaign also calls for an end to damaging World Bank economic conditionality and includes, among many others, ActionAid International, Christian Aid, the Jubilee Debt Campaign, Friends of the Earth, Norwegian Church Aid, World Vision UK and France, WWF Italy, CRBM Italy, Bretton Woods Project, Urgewald and EURODAD.

The organizations have signed a joint statement that argues that: “The climate change emergency requires action before it’s too late. The poorest are being hit hardest and hit now. The World Bank remains one of the main public financiers of fossil fuel development which contributes massively to global warming and is destined largely for Northern consumption and multinational profits. The Bank should immediately start a complete phase out of financing for fossil fuel operations and oil aid, and instead should significantly scale-up support for renewable energy and energy efficiency.”