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Patients living in poverty in the Global South are being bankrupted by private healthcare corporations backed by multi-million-dollar investments from development finance institutions (DFIs) run by the UK, French, German and other rich country governments. DFIs like the World Bank’s International Finance Corporation (IFC) and the European Investment Bank (EIB) invest public funds via the private sector to help foster economic development in the Global South and tackle poverty. However, Oxfam published two investigations on DFI funding into private hospital chains and other for-profit healthcare corporations operating in low- and middle-income countries and found cases of them.   

“People have become complacent about COVID-19. Our global (health) funds are fast running out of money. Vaccine inequity is getting worse,” said former UK prime minister Gordon Brown today. 

The World Bank and the International Monetary Fund cannot allow political and economic shocks to hijack their ambitions to combat climate change and curb inequality, warned Oxfam.

The European Commission published today a paper on how to raise the $100 billion per year pledged by rich countries at last year’s UN climate talks in Cancun to help poor countries protect

Nadia Daar, Head of Oxfam International's Washington DC office, responds to the World Bank’s announcement today that it has appointed Mr. Makhtar Diop as the new CEO of its private sector arm, the International Finance Corporation (IFC).

In 2011, following decades of isolation, Myanmar embarked on an unprecedented reform process, raising hopes for a new democracy.

In reaction to the announcement that climate change legislation is delayed by the United States Senate, perhaps indefinitely, David Waskow of Oxfam, made the following statement:

In response to President Obama’s climate plan announcement scheduled for this afternoon Gawain Kripke, research and policy director for Oxfam America said: 

Paris has been a landmark agreement, but it won’t be the last. The political world is waking up to what a transition away from fossil fuels looks like. But it has only started to understand the scale of the challenge to adapt to the impact of climate change on our food system, our humanitarian system, our economies and ultimately the livelihoods of hundreds of millions around the world. For the world’s poorest and most vulnerable, the struggle for climate justice continues. 

With the World Bank and International Monetary Fund Annual Meetings wrapping up, Nadia Daar, the head of Oxfam International’s Washington office commented on the week’s events, including developments on inequality, climate change, and tax policy.