Thursday, September 14, 2006

UK withholds World Bank donation

Oxfam should be happy with the news coming out of the UK. The UK is holding onto its £50m World Bank donation until issues of conditionality imposed on developing countries are addressed.

The BBC reports:

The UK had taken the stance as it opposed World Bank efforts to impose damaging
policies that force poorer countries to liberalise their markets.

"Most people would agree that if you're invading your neighbour, if you're oppressing your population or if you're taking aid money and spending it on other things, then we shouldn't stand for that and we won't," Mr Benn told the BBC. "Britain doesn't and nor does the World Bank and we should attach conditions in those circumstances."

"But on other issues, particularly economic policy, developing countries ought to take their own decisions and I do believe that this is one of the ways that we can increase the voice of the poorest countries of the world," he added.

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