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In response to the World Bank Group President Jim Yong Kim announcing cooperation between the World Bank, the Asian Infrastructure Investment Bank and the BRICS New Development Bank, Nicolas Mombrial of Oxfam International said::“More money for development and better cooperation is always good news so Jim Kim’s willingness to work closely with these banks is welcome. But fighting poverty and inequality, operating transparently, and respecting high environmental and social standards must be at the heart of what these banks do…

Oxfam is encouraged by World Bank President Dr. Jim Yong Kim’s rejection of trickle-down economics and his clear stance on the enormous challenge inequality poses across the world. 

It is shameful to see European banks again involved in a major global money laundering scandal. 

Today, the EU chose fuel over food in the provisional agreement reached on the Renewable Energy Directive (RED), the EU law that incentivises the burning of crops to fuel cars and trucks.

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.

Europe is facing unacceptable levels of poverty and inequality. This briefing paper reviews the current situation and presents recommendations to help put an end to poverty and extreme inequality in Europe.

On the eve of the G8 Summit, international agency Oxfam called on world leaders heading to Camp David to make predictable, measureable funding and policy commitments that will help 50 million people lift themselves out of poverty through sustainable, small-scale agriculture by 2015.

EU governments are losing out on a staggering 286.5 billion euros in revenue annually, equivalent to 33 million euros per hour, due to their failure to fairly tax Europe’s wealthiest. This amount, equivalent to Finland’s GDP, represents what a European wealth tax of up to 5 percent could raise every year, according to Oxfam’s analysis. 

Africa’s remarkable growth, driven in large part by a minerals and energy boom, is threatened by illicit capital outflows and widening income gaps.

Russia’s absence from the G7 summit is a stark warning to Europe that political turmoil on its doorstep risks an energy price crisis, at the same time as the effects of climate change on food imports could drive up costs.