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In reaction to remarks today by new World Bank President Jim Yong Kim at the International AIDS Conference in Washington, DC, Oxfam spokesper

Oxfam is calling on the World Bank Group to put safeguards in place to ensure that its clients can prove they are paying their fair share of tax.

Oxfam spokesperson Elizabeth Stuart said:

Despite some advances, progress towards meeting aid and development effectiveness targets is flat-lining, according to a report published by the Global Partnership for Effective Development Cooperation. 

The World Bank and the IMF must seize their early chance in what could be a watershed year to end extreme global poverty by putting the battle against inequality, climate change and tax dodging at the very top of its Spring Meetings’ agenda this week. 

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.

In reaction to the plenary remarks delivered by World Bank President Jim Kim, Oxfam’s head of Washington office, Nicolas Mombrial, said:

Oxfam's response to today’s announcement that Christine Lagarde is stepping down as Managing Director (MD) of the International Monetary Fund (IMF), effective on September 12, 2019.

An internal investigation has revealed that the World Bank has invested in a palm oil and food company implicated in serious rights abuses in Honduras.

'In terms of a plan to reduce extreme income inequality, we are left empty handed. There has been a lot of talk and a raw sketch of plan of action in the communique, but it’s just a drop in the bucket.”