Big business got 66% of Covid-19 aid in South Africa, says study
By Reuters
Nita Bhalla
Nairobi - Developing countries have used most of their Covid-19 recovery funds to bail out big business, neglecting millions of people who have been pushed into poverty, including cash-in-hand workers, women and the disabled, a study showed on Thursday.
In eight countries, an average of 63% of pandemic-related state aid went to big businesses, while 26% went to social protection schemes, 10% to small and medium-sized enterprises, and only 1% to informal sector workers.
The findings by the Financial Transparency Coalition (FTC) civil society group were based on spending in Kenya, South Africa, Sierra Leone, Bangladesh, Nepal, Honduras, Guatemala and El Salvador.
Companies, not poor, get most COVID-19 aid in developing world, says study
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Companies, not poor, get most COVID-19 aid in developing world, says study
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.