Poor people being bypassed or bankrupted as rich countries pour development billions into private healthcare
26 June 2023
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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.
Universal Health Coverage has risen to the top of the global health agenda. At its core, Universal Health Coverage is about the right to health.
Inequality is central to Oxfam’s mission to fight poverty.