Oxfam reaction: World Bank announces $49.3 billion funding package

Published: 15th December 2010

Reacting to the World Bank’s announcement that it had secured $49.3bn for its fund for the world’s poorest countries, the International Development Association (IDA), international development agency Oxfam welcomed the replenishment but called on the Bank to release detailed information about how it tracks and spends IDA money in poor countries.

Oxfam spokesperson Elizabeth Stuart said: “Donors must use this opportunity to flex their muscles and insist that the Bank show how and where its loans and grants make a difference to extreme poverty.”

“It’s not good enough that the World Bank can’t point to exactly how this money is helping the poorest countries escape poverty.  The Bank talks a lot about meeting Millennium Development Goals, but its opaque and complex system for measuring results doesn’t allow anyone to track whether they’re doing this.”

“Donors shouldn’t pull their punches now – they can insist that their contributions to the Bank come with meaningful reform and more transparency.”

“The World Bank’s fund for the poorest countries should be used to support poor country governments make health care free and improve the quality of education; a crucial part of supporting their citizens through the economic crisis.”

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What are the Millennium Development Goals


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