Development Aid

Foreign, Commonwealth and Development Office written question – answered on 5 June 2023.

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Photo of Sarah Champion Sarah Champion Chair, International Development Committee, Chair, International Development Committee

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, with reference to Chapter 1, paragraph 4 of the UK Government’s Strategy for International Development, published in May 2022, what steps his Department plans to take to mobilise up to £8 billion of UK-backed financing a year by 2025; and how much of that £8 billion the his Department plans to mobilise from the private sector for each of those years.

Photo of Andrew Mitchell Andrew Mitchell Minister of State (Foreign, Commonwealth and Development Office) (Minister for Development), Minister of State (Foreign, Commonwealth and Development Office) (Minister for Development and Africa)

A range of HMG instruments contribute towards plans to mobilise up to £8 billion of UK backed financing a year by 2025 - including our development finance instruments and centres of expertise. We have not set specific private sector mobilisation targets to remain flexible and tailor our offer to the investment needs of our partner countries.

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