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In response to the selection today of Ajay Banga as President of the World Bank for a five-year term beginning 2 June, Katie Malouf-Bous, interim Head of Oxfam International’s Washington DC Office, said: "The true test of Ajay Banga starts now: to reorient the World Bank to tackle the extreme inequality that robs billions of people of economic security and dignity. We need huge new investments in development but we need them to be publicly-led and purposed to lift people out of poverty —and we need guardrails around private finance that has run riot for too long."

Oxfam welcomes today’s announcement by the World Bank Group on a new Carbon Pricing Leadership Coalition before the UN Climate Summit in New York. The Summit is meant to build political momentum towards a post-2020 climate agreement in Paris in 2015, with governments on the hook to make meaningful commitments to reduce their emissions and to deliver climate finance to the poorest, most vulnerable countries. Placing a…

Guns are useless without bullets. An Arms Trade Treaty (ATT) that does not control ammunition will not achieve its purposes.

The strategy to end extreme poverty and support inclusive growth is an important milestone for the World Bank and Oxfam welcomes Jim Kim’s vision and commitment.

The World Bank’s new assessment on the scale of finance needed to help developing countries adapt to the unavoidable impacts of climate change – $75-100bn per year on average from 2010-2050 – is a vital and timely contribution to the current climate negotiations under way in Bangkok.

In response to the World Bank Group today issuing a statement announcing the discontinuation of its Doing Business report, Nadia Daar, Head of Oxfam International’s Washington DC Office, said: “It's a welcome move and about time the World Bank scrapped its Doing Business report, a global competitiveness index that encouraged governments to adopt destructive policies that worsen inequality, like slashing labor regulations and corporate taxes."

Given the tremendous financing needs, Oxfam supports a strong IDA20 replenishment. We are calling for a robust policy package that is appropriately ambitious for the next three years, aimed at propelling IDA countries forward towards a just economy after COVID-19 that is more equal and inclusive.

World Bank Group President Jim Yong Kim today announ

World Bank President Jim Yong Kim has yet again failed to profile his commitment to tackling climate change and inequality as central to his aim in eradicating poverty by 2030.

Oxfam commended the World Bank for connecting the need to tackle climate change with the urgent fight to end poverty. In a new report, the Bank warned that more than 100 million additional people could be pushed into poverty by crop failures, floods, hunger, and other shocks caused by climate change.