G7 and NATO Summits

Baroness Sugg Excerpts

Thursday 17th June 2021 Lords Chamber

[Baroness Evans of Bowes Park (Con)]

The new approach is intended to give developing countries access to more, better and faster finance while accelerating the global shift to renewable energy and sustainable technology, and it is intended to expand the current investment offer by bringing in private finance for clean and green infrastructure in developing countries, to ensure that they have autonomy over their climate investments and ensure financial sustainability and access to cutting-edge technology and financing projects. As I said, a designated taskforce will look at the details, consult developing countries and other partners and report back on progress in the autumn.

[Baroness Sugg (Con)]

My Lords, I welcome as a first step the proposal on the 100 million surplus doses that the UK is now committed to. As we know, low-income countries desperately need more vaccines, and quickly. The PM confirmed yesterday that those vaccines will be donated on top of the existing aid budget, which is great news, but does that mean that they will be funded on top of the 0.5% of GNI or on top of the £10 billion of aid already committed? The former would be very welcome, and I hope the first step on a road back to 0.7%, but the latter would mean that these vaccines were paid for by the surplus of mistakenly overcutting our life-saving aid programmes. Can my noble friend clarify that point?

[Baroness Evans of Bowes Park (Con)]

The cost of donating the UK’s vaccine surpluses will be classified as ODA and will be in addition to the £10 billion already committed to in aid this year.