Africa: Partnerships

Lord Collins of Highbury Excerpts

Thursday 14th September 2023 Lords Chamber

[Lord Mott (Con)]

I thank my noble friend for his question and for his work within this organisation. It is vitally important that it continues to do that good work. Clearly, budgets in some cases have been reduced. I do not have the details in relation to that organisation regarding its budget, but I will certainly take that back to the department and write to him in the coming weeks.

[Lord Collins of Highbury (Lab)]

My Lords, the Africa Climate Summit in Nairobi on 4 September evidenced the determination of African countries to work together to set out a positive agenda for driving green growth. However, the debt burden and rising interest rates increasing the cost of borrowing from capital markets are inhibiting the huge potential for green growth in Africa. What are the Government doing across Whitehall with international partners to reform multilateral development banks so that the growth potential is fully realised?

[Lord Mott (Con)]

I thank the noble Lord, Lord Collins of Highbury, for his question. The UK is a partner for African countries that are disproportionately affected by climate change. I will give some examples of the work that we are doing in relation to this, which demonstrates our commitment to supporting those countries. We have ambitious energy transition plans, providing £1.8 billion of international partners group finance, and we are delivering on our commitment to double international climate finance to £11.6 billion by 2025-26. The UK has supported the “room to run” guarantee to the African Development Bank, which is expected to unlock up to £2 billion-worth of new financing for projects across the continent and £200 million to the African Development Bank and the climate action window.