Government to withold contribution to World Bank
-14/09/06
Christian Aid has welcomed t
Government to withold contribution to World Bank
-14/09/06
Christian Aid has welcomed todayís decision by the UK government to withhold £50 million of its contribution to the World Bank in protest against the organisationís continued use of economic conditions on loans to poor countries.
The Secretary of State for International Development Hilary Bennís 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.
Representatives from Christian Aid met with Benn yesterday.
Last year one of the successes of the Make Poverty History campaign, was that Tony Blair announced the UK would no longer force poor countries to implement controversial economic policies in return for aid.
This radical call to withdraw UK money from the World Bank and IMF was aimed at trying to persuade them to follow suit.
Every year the Treasury gives the World Bank and IMF £15.72 for every taxpayer in the UK.
Christian Aidís head of policy, Charles Abugre, said today “This is a very welcome development and vindicates Christian Aidís 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.”
Thousands of Christian Aid campaigners and a group of celebrities will march past the Treasury today to call for the institutions to reform and stop pursuing damaging policies that harm poor people in developing countries.
Government to withold contribution to World Bank
-14/09/06
Christian Aid has welcomed todayís decision by the UK government to withhold £50 million of its contribution to the World Bank in protest against the organisationís continued use of economic conditions on loans to poor countries.
The Secretary of State for International Development Hilary Bennís 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.
Representatives from Christian Aid met with Benn yesterday.
Last year one of the successes of the Make Poverty History campaign, was that Tony Blair announced the UK would no longer force poor countries to implement controversial economic policies in return for aid.
This radical call to withdraw UK money from the World Bank and IMF was aimed at trying to persuade them to follow suit.
Every year the Treasury gives the World Bank and IMF £15.72 for every taxpayer in the UK.
Christian Aidís head of policy, Charles Abugre, said today “This is a very welcome development and vindicates Christian Aidís 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.”
Thousands of Christian Aid campaigners and a group of celebrities will march past the Treasury today to call for the institutions to reform and stop pursuing damaging policies that harm poor people in developing countries.