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Today, the world produces enough to feed all seven billion of its inhabitants – but nearly a billion people still go without.

Campaigners are calling for a fundamental overhaul of World Bank lending to financial markets actors, following the publication of an Ombudsman audit.

This year’s G20 Summit will raise the stakes for the group to prove itself against growing doubts about its effectiveness – not least for people living in poverty, says Oxfam.

Using land alone to remove the world’s carbon emissions to achieve ‘net zero’ by 2050 would require at least 1.6 billion hectares of new forests, equivalent to five times the size of India or more than all the farmland on the planet, reveals a new Oxfam report today.

A draft document entitled “A Common Vision for the World Bank Group”, which will be discussed

The fact that the IMF is proposing that adaptation efforts are funded by grants rather than loans is positive. But this will only work if developed countries ensure the money is there to resource this vital assistance to vulnerable countries.

Ahead of the Annual Meetings, international agency Oxfam urged the World Bank to sharpen and swiftly move forward on the new strategy to end poverty by 2030 and boost shared prosperity.

Oxfam’s Sarah Wynn-Williams said: “This farcical appointment process has damaged the IMF’s credibility.

Donors have replenished the World Bank’s fund for the world’s poorest countries, the International Development Association, to the tune of

“This is great and sorely needed news at a time when the world faces a sobering set of challenges," said Nick Galasso, interim head of Oxfam International's Washington office.