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At a time of great need, aid and other forms of development cooperation are at risk. Representatives from donor countries and developing countries alike will meet at the end of 2016 to discuss the way forward. The direction they take has the potential to affect millions of lives, for better or worse.

Emma Seery, Oxfam's spokesperson, said:

Women across the globe are facing new threats which risk dismantling decades of hard-won rights and derailing the effort to end extreme poverty, Oxfam warns today. 

The combined wealth of the richest 1 percent will overtake that of the other 99 percent of people next year unless the current trend of rising inequality is checked, Oxfam warned today ahead of the annual World Economic Forum meeting in Davos.

The gap between the rich and the rest is extreme and growing. G20 nations are not immune.

The world’s biggest aid donor, the European Union, was sidelined at the High Level Forum on Aid Effectiveness taking place in Busan, South Korea from 29 November – 1 December.

The COVID-19 death toll has been four times higher in lower-income countries than in rich ones, according to a new report published today by Oxfam on behalf of the People’s Vaccine Alliance as the world marks two years since the World Health Organization declared the pandemic. 

“The G20 reiterated previous commitments to reduce inequality, boost the participation of women in work and phase out inefficient fossil fuel subsidies. The G20 said they would draw up a proper response to the refugee and migrant challenge next year, which is too late. The world needs urgent action now, not more words.”

Today’s World Wealth Report from Capgemini shows that times have never been better for the world’s wealthiest - since 2009 more than 4.5 million new millionaires have been created, rising to a total of 15.4 million millionaires across the world last year. Yet while the wealthy prosper, 702 million people living in extreme poverty are being left behind.

Eighty two percent of the wealth generated last year went to the richest one percent of the global population, while the 3.7 billion people who make up the poorest half of the world saw no increase in their wealth, according to a new Oxfam report released today.