Still Misguided: The US continues to support oil & gas projects at the World Bank Group

Since the publication of Natasha Frazier’s report Misguided: U.S. Supporting Financing of Fossil Gas at World Bank Group, the World Bank Group has continued to support fossil fuel projects across the globe with the support of the United States. Since October 2023, the International Finance Corporation has committed to financing oil and gas projects in Nigeria and Mali and is helping to evaluate the feasibility of developing a Liquid Natural Gas import terminal in Morocco. As a major shareholder at the World Bank Group, the US has a massive potential to promote sustainable economic development and climate resilience. However, the US Treasury is failing to use its voice and vote to oppose oil and gas projects at the World Bank Group and support greener alternatives.