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The World Bank and international donors must find $1.7 billion to improve dangerously inadequate health systems in Ebola-affected countries said Oxfam.

The World Bank’s report shows clearly that billions of people were more vulnerable to the economic impacts of COVID-19 because of decades of economic policies which have kept them living one paycheck away from poverty, while the richest in society accumulate ever more wealth.

Public aid money should not be used to fund corporate-backed private school chains that fuel inequality. Other donor agencies and governments now need to follow suit, said Oxfam today in response to the US House Financial Services Committee’s (HFSC) announcement that the World Bank and its private sector arm have approved a package of reforms.

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.

Following the abuses revealed in the Panama Papers, world leaders attending the Spring Meetings of the World Bank and International Monetary Fund this week must seize the moment to take decisive action and help end the era of tax havens, said Oxfam today.

A billion-dollar flagship scheme to support private sector-led health care in Africa is bypassing poor people and concentrating instead on high-end urban hospitals catering mainly for the rich.

Oxfam analysed the World Bank’s emergency health funding to 71 countries in response to the COVID-19 pandemic. While its response has been rapid and significant, Oxfam finds that the World Bank has missed vital opportunities to strengthen public health systems so they can tackle COVID-19 and deliver health for all in the future. 

The World Bank and International Monetary Fund need to ditch the ‘trickle down’ economics of the past and lead the fight against inequality if they are serious about the new target to end extreme poverty by 2030.

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.

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.