FIVE global charities on Thursday criticised rich nations for quickly bailing out the world's ailing financial sector while 'foot-dragging' on aid, climate change and poverty.

In a joint statement, the heads of Amnesty International, World Vision, Oxfam, Greenpeace and Plan International warned of dire consequences if wealthy states used the crisis to cut aid and trade.

'The urgency shown by rich countries to tackle the financial meltdown stands in stark contrast to their foot-dragging and broken promises over aid and poverty alleviation, human rights and climate change,' they said.

It was also twice the amount needed to achieve an internationally-agreed goal to reduce poverty by 2015, the organisations added.

The tens of billions of pounds (tens of billions of dollars) the British government is spending to help recapitalise its banking sector is 'roughly what's needed for poor countries to adapt to climate change each year,' they added.

'For millions of the world's poorest citizens, it is literally a matter of life and death,' the statement said, referring to a possible drying up of international aid.

There is also a risk of increasing human rights violations and rising social tensions, they warned.

'As the economy shrinks and countries tighten their belts, migrants and refugees could be pushed back to untenable situations,' they said.

'Social tensions could increase, leading nervous governments to clamp down on dissent and impose tough public security policies curbing civil liberties.'

The statement was signed by Ms Irene Khan, secretary general of human rights watchdog Amnesty International, Mr Jeremy Hobbs, executive director of Oxfam International and Mr Dean Hirsch, chief executive of World Vision.

Mr Tom Miller, chief executive of Plan International and Gerd Leipold, international executive director of Greenpeace, also signed the statement. -- AFP