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UK to withhold funds from the World Bank
Christian Aid welcomes today’s decision by the UK government to withhold £50 million of its contribution to the World Bank in protest against the organisation’s continued use of economic conditions on loans to poor countries.
The secretary of state for international development Hilary Benn’s announcement comes after months of pressure by Christian Aid, which has been the only major development agency to call for the UK to withdraw funds from the bank.
Christian Aid’s head of policy, Charles Abugre, said today ‘This is a very welcome development and vindicates Christian Aid’s long held belief that economic conditions imposed on poor countries by the World Bank and the International Monetary Fund can be disastrous for poor countries.’
He added ’But this only a first step. We now urge Britain to go the extra mile and withhold all its monies. Until these organisations fundamentally reform and allow poor countries space to develop they will remain a busted flush which we must not underwrite.‘
For interviews contact Anna Thomas on 07855 107696 or John Mcghie on 07812 325130
The ‘Stop Paying for Poverty’ rally organised by Christian Aid takes place today, details are on Pressureworks, our campaigns website.
Christian Aid’s head of policy, Charles Abugre, said today ‘This is a very welcome development and vindicates Christian Aid’s long held belief that economic conditions imposed on poor countries by the World Bank and the International Monetary Fund can be disastrous for poor countries.’
He added ’But this only a first step. We now urge Britain to go the extra mile and withhold all its monies. Until these organisations fundamentally reform and allow poor countries space to develop they will remain a busted flush which we must not underwrite.‘
For interviews contact Anna Thomas on 07855 107696 or John Mcghie on 07812 325130
The ‘Stop Paying for Poverty’ rally organised by Christian Aid takes place today, details are on Pressureworks, our campaigns website.
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