(9 years ago)
Lords ChamberMy Lords, the prosperity fund will be focused mainly on emerging and developing economies. They are becoming increasingly important for global growth. As the ODA document sets out, we will give greater priority to promoting sustainable economic reforms that are needed to continue that. The prosperity fund, which will be worth £1.3 billion over the next five years, will be aimed at things like the competitiveness of an operation of markets, energy, financial sector reform, encouraging Governments to look at ways of bearing down on corruption and, in so doing, to address the need to reduce poverty.
The fund is designed to give an additional boost to the opportunities for international business, especially, but not totally, for UK companies. We are planning a lot of other work on promoting prosperity, which is set out in the document. I am sure that the noble Baroness will find that of interest. I cannot be specific about the countries that we will target at this juncture, but I hope that that general description will be helpful. Africa is going to be a major focus for this, not least sub-Saharan Africa, maybe looking at ways that the energy market, for example, can be encouraged in that area.
My Lords, would the Minister agree with me that some of the language we are using in this debate reflects an assumption that the world is binary and divided into allies and enemies? The reality is that allies become enemies, and enemies become allies. In any strategic approach to the future, could we be assured that that possibility will be taken into account? I worked on elements to do with Iraq in the 1980s, and we can see what happened in the 2000s. Arms and resources that we sell to people who are rebels in Syria can then be used against us. Is that sort of strategic thinking about a non-binary, more eclectic world being taken into consideration?
The right reverend Prelate reminds us of a very important point of principle. As I hope he will find when he reads this document, running through it is a thread or theme that makes clear that government has to be joined up in all of this—much more joined up than it ever has been in the past. The way in which countries abroad are assessed as friendly, non-friendly or something in between is absolutely essential in our long-term planning. Having said that, we are very clear that we have our prime allies with whom we wish to collaborate, specifically when it comes to defence—not least the United States, France and, increasingly, Germany. However, it is possible for countries around the world to unite around a common objective, as we saw recently with the United Nations Security Council resolution, where all the members of the Security Council voted in one direction. That was a remarkable event in itself, and we should take our cue from that in deciding how to proceed further in the context of the Middle East conflict.