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Washington, DC— In reaction to World Bank President Jim Kim's announcement  of a new interim target of cutting global poverty to 9% by 2020, Oxfam spokesperson Raymond C.

Development Finance International and Oxfam have produced the first index to measure the commitment of governments to reducing the gap between the rich and the poor.  

Campaigners are calling for a fundamental overhaul of World Bank lending to financial markets actors, following the publication of an Ombudsman audit.

This year’s G20 Summit will raise the stakes for the group to prove itself against growing doubts about its effectiveness – not least for people living in poverty, says Oxfam.

A draft document entitled “A Common Vision for the World Bank Group”, which will be discussed

Ahead of the Annual Meetings, international agency Oxfam urged the World Bank to sharpen and swiftly move forward on the new strategy to end poverty by 2030 and boost shared prosperity.

Donors have replenished the World Bank’s fund for the world’s poorest countries, the International Development Association, to the tune of

“This is great and sorely needed news at a time when the world faces a sobering set of challenges," said Nick Galasso, interim head of Oxfam International's Washington office.

The World Development Report 2010 addresses how the global response to climate change can strengthen, rather than undermine, development in the world's poorest countries.

This second edition of the Commitment to Reducing Inequality (CRI) Index is based on a new database of indicators, now covering 157 countries, which measures government action on social spending, tax and labour rights – three areas found to be critical to reducing the inequality gap.