Stop paying for poverty logo/Christian Aid
Under pressure, the World Bank reforms
On 5 December, Hilary Benn, the secretary of state for international development, released the £50 million that he had been withholding from the World Bank in protest at their lack of progress in removing the damaging conditions they attach to poor countries’ loans.
The government took the action back in September on the same day that thousands of Christian Aid campaigners marched through Whitehall calling on the government to ‘stop paying for poverty.’ The march was the culmination of months of campaigning with Christian Aid campaigners literally ‘banging the message home’ at drumming events all over the country.
Withholding the money was a bold move and sent a powerful message to the Bank that it was time for change. And to some extent it worked - in recent weeks and months observers noticed a significant change in the way the Bank talks about the issue. A World Bank report released this week shows that some policies have been changed.
Withholding the money was a bold move and sent a powerful message to the Bank that it was time for change. And to some extent it worked - in recent weeks and months observers noticed a significant change in the way the Bank talks about the issue. A World Bank report released this week shows that some policies have been changed.
Too soon
But is this enough? Is it really time to give the money back?Christian Aid would say no – we wanted Hilary Benn to hold out until there was more significant change.
‘The World Bank’s latest report shows that it is still attaching economic conditions to aid,’ said Olivia McDonald, Christian Aid’s senior policy officer.
‘It continues to push for privatisation and liberalisation, sometimes even under the guise of improving governance. This directly contravenes the British government’s own policy and it is hypocritical for us to continue funding the Bank when its economic policies have been proven to cause so much damage to poor people.’
But now the money has been handed over the question must be what will Hilary Benn do to ensure this important issue doesn’t drop off the Bank’s agenda?
Christian Aid wants Hilary Benn to keep up the pressure on the World Bank. Next year the World Bank will be passing the hat around rich countries for more funds. Hilary Benn should use this opportunity to make it clear that further funding is dependent on the Bank removing the damaging economic policies it requires poor countries to adopt in return for loans.
‘The World Bank’s latest report shows that it is still attaching economic conditions to aid,’ said Olivia McDonald, Christian Aid’s senior policy officer.
‘It continues to push for privatisation and liberalisation, sometimes even under the guise of improving governance. This directly contravenes the British government’s own policy and it is hypocritical for us to continue funding the Bank when its economic policies have been proven to cause so much damage to poor people.’
But now the money has been handed over the question must be what will Hilary Benn do to ensure this important issue doesn’t drop off the Bank’s agenda?
Christian Aid wants Hilary Benn to keep up the pressure on the World Bank. Next year the World Bank will be passing the hat around rich countries for more funds. Hilary Benn should use this opportunity to make it clear that further funding is dependent on the Bank removing the damaging economic policies it requires poor countries to adopt in return for loans.
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