BRATISLAVA , May 18 2021 (IPS)* – Poverty and income inequality are being deepened as COVID-19 relief funds are handed out to large corporations instead of social protection programmes in developing countries, groups involved in a new study of COVID-19 bailouts have said.
The large part of COVID-19 relief funds is going to big corporation. People who are likely to have been impacted the most by the pandemic in the Global South, such as smaller businesses, marginalised communities, women, and those in poverty, have been left out. Credit: Dionny Matos/IPS
A report by the Financial Transparency Coalition (FTC) civil society group showed that the vast majority of COVID-19 recovery funds in nine developing countries have gone to big corporations instead of toward welfare, small firms, or those working in the informal economy.