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Joint Media Reaction by Oxfam, CAN Europe, APRODEV, CIDSE

Today EU Development Ministers agreed to boost the role of the private sector in development cooperation, despite the limitations of placing the private sector at the centre of EU development policy.

Oxfam is pleased that several multinational companies  attended a hearing in front of the European Parliament’s TAXE committee on Monday. The firms had initially refused to do so.Oxfam’s EU policy advisor for inequality and taxation, Aurore Chardonnet, said: “Companies decided to show up thanks to growing public and political pressure. This indicates they are starting to realize they will no longer get away with secretive tax deals and that transparency in business is the way forward. Opinion polls show that the vast majority of European citizens are in favor of tougher rules…

Today, the EU agreed on a new European law to make companies accountable for the damage they cause to people and the planet - the Corporate Due Diligence Directive (CSDDD). In response, Oxfam EU’s Economic Justice Policy Lead, Marc-Olivier Herman, said: "This deal marks a significant milestone as the largest of companies will finally have to clean up their act. But it did not get through unscathed with the regressive business lobby and a group of EU countries led by France and Germany punching holes in the law.

According to new figures, more than $2.2 billion worth of arms and ammunition have been imported since 2000 by countries operating under arms embargoes.

The Global Partnership for Effective Development Cooperation, established in Busan, South Korea in 2011, set the international standard on the principles of effective aid and good developme

Latin America and the Caribbean (LAC) is still the most unequal region in the world, despite economic growth and the reduction of both poverty and inequality over the last decade.

Extreme inequality is out of control in Kenya. Less than 0.1% of the population (8,300 people) own more wealth than the bottom 99.9% (more than 44 million people). Tackling inequality could help to lift millions out of poverty, secure sustainable economic growth and bring the country together.

The European Union, which holds eight seats out of twenty four on the International Monetary Fund (IMF) board, has made an offer to rotate some of their IMF board seats with middle-income countries

The European Commission today published an action plan for a fairer corporate tax system in the European Union.