Baroness Verma
Main Page: Baroness Verma (Conservative - Life peer)G20: Debt Cancellation
Baroness Verma Excerpts
Baroness Penn
As I said in my response to the noble Lord, Lord Livermore, we will continue to work with the G20 and look at the extension of the debt service suspension initiative. One of the things that makes that initiative so ground-breaking is that it is the first time that China has signed up to a multilateral agreement of this nature, and as it is the largest lender to some of these countries, that will have a big impact for them.
Baroness Verma (Con) [V]
My Lords, will my noble friend ensure that funding through DfID and FCO is directed at supporting economic recovery through an economic recovery plan, whereby British businesses are supported in investing and generating employment?
Baroness Penn
We will absolutely ensure that our commitment to 0.7% of GNI supports economic recovery in the countries most affected by this pandemic and also draw on the expertise and skills of British businesses and investors across the world to support jobs.