Germany will on Wednesday urge the World Bank, the International Monetary Fund, and the World Trade Organisation to work together better in managing the social and environmental impacts of globalisation.

Angela Merkel, the German chancellor and the current chair of the G8 group of rich economies, has invited the heads of the three multilateral institutions, plus those of the Organisation for Economic Co-operation and Development and the International Labour Organisation, for talks in Berlin on creating “fair conditions for a social and open world economy”, the chancellor’s spokesman said.