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Satirical figures from the aid organization Oxfam featuring the heads of G7 heads of state and government ahead of the G7 summit in Évian-les-Bains.
Keystone
The emergency aid and development organization Oxfam laments that the leading industrialized nations of the G7 have slashed funding for development cooperation. The organization warns of serious consequences and calls for new ways to secure funding.
Ahead of the meeting of G7 heads of state and government in Évian, France, on Lake Geneva, Oxfam stated in a press release that funding had been cut by $48 billion between 2024 and 2025.
According to Oxfam’s calculations, oil companies increased their profits to around $400 million per day during the Iran war. The organization is calling on the German government and the G7 to tax billion-dollar fortunes and windfall profits, thereby increasing funding for development cooperation. The G7 cuts are the largest in the group’s history. “The human cost is catastrophic.”
The Group of Seven (G7) includes Germany, France, the United Kingdom, Italy, Japan, Canada, and the United States. The summit runs through Wednesday. Germany is represented by Chancellor Friedrich Merz (CDU).
15.06.2026, 00:15
