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BOSTON - The vast majority of COVID-19 recovery funds have gone to big corporations instead of welfare, smaller firms and those working in the informal economy such as garment workers, according to a new report.

The Financial Transparency Coalition (FTC) report analysed data from nine countries: Kenya, South Africa, Sierra Leone, Bangladesh, India, Nepal, Honduras, Guatemala and El Salvador.

It found that 63 per cent of pandemic-related funds went to big businesses in eight of the nine surveyed countries, while only a quarter went to social protection.

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