Patients living in poverty in the Global South are being bankrupted by private healthcare corporations backed by multi-million-dollar investments from development finance institutions (DFIs) run by the UK, French, German and other rich country governments. DFIs like the World Bank’s International Finance Corporation (IFC) and the European Investment Bank (EIB) invest public funds via the private sector to help foster economic development in the Global South and tackle poverty. However, Oxfam published two investigations on DFI funding into private hospital chains and other for-profit healthcare corporations operating in low- and middle-income countries and found cases of them.   

West Africa is hit by its worst food crisis in a decade, with 27 million people going hungry. This number could rise to 38 million this June - a new historic level and already an increase by more than a third over last year- unless urgent action is taken.

The World Bank’s International Finance Corporation (IFC) has quietly divested from New Globe Schools, better known as Bridge International Academies (BIA), a for-profit school chain operating in four African countries and India. The IFC has invested $13.5 million in BIA since 2014, with the intention of supporting the company’s expansion to other countries.

West African governments are planning to “slash and burn” their way out of COVID-19 induced economic loss, reveals new analysis from Oxfam and Development Finance International (DFI) today. The organizations are calling for an urgent change of course as West African governments are preparing their annual budgets and participating in the Annual Meetings of the World Bank and IMF, which are crucial discussions to focus the recovery on fighting inequality and poverty.

On the eve of technical talks to thrash out the final details of the OECD tax deal ahead of the G20 Finance Ministers meeting next week, Oxfam is calling for world leaders to bring fairness and ambition back to the table and deliver a tax plan that won’t leave developing countries with next to nothing. 

A year on since the UN warned of “famines of biblical proportions”, rich donors have funded just 5 percent of the UN’s $7.8bn food security appeal for 2021. More than 200 NGOs published an open letter today calling upon all governments to urgently increase aid to stop over 34 million people, from being pushed to the brink of starvation this year.

Very low spending on public healthcare, weak social safety nets and poor labor rights meant the majority of the world’s countries were woefully ill-equipped to deal with COVID-19, reveals new analysis from Oxfam and Development Finance International (DFI) today.

Thirty-two of the world’s largest companies stand to see their profits jump by $109 billion more in 2020 as the Covid-19 pandemic lays bare an economic model that delivers profits for the wealthiest on the back of the poorest, according to a new Oxfam report today.

Inequality is at crisis levels in West Africa, yet these governments are less committed to reducing inequality than the rest of the continent.

Thousands of displaced persons returning from Cameroon to Nigeria are facing appalling conditions on arrival in Pulka, says Oxfam.