Reaction: IMF-World Bank Development Committee

Jim Yong Kim and the MDGs
Oxfam Elizabeth Stuart said:

“Huge efforts have been to taken to lift people out of poverty, but hundreds of millions are still left behind.

“Under Dr Kim the World Bank should ensure its investments target the poorest citizens in the countries where it operates.”


Private sector & growth, jobs and poverty reduction:
Oxfam spokesperson Sasanka Thilakasiri said:

“More than half of International Finance Corporation [IFC] lending is through financial intermediaries, and too often agricultural investments are leading to poor communities being kicked off their land.”

“Funding for development channelled through private equity funds, private banks and credit agencies must be scrutinized and monitored.


Volatile food prices threaten progress on poverty:
Oxfam spokesperson Sasanka Thilakasiri said:

“Food price spikes plunged 44 million more people into poverty last year.

“Poor people often spend half their incomes on food. The international community needs to take action to protect poor people from food price volatility.”