Draft Caribbean Development Bank (Eleventh Replenishment of the Special Development Fund (Unified)) Order 2026

Wendy Morton Excerpts

Monday 23rd February 2026 General Committees

[Wendy Morton (Aldridge-Brownhills) (Con)]

It is a pleasure to serve under your chairship, Ms Jardine. I thank the Minister for setting out the draft order.

The Caribbean faces profound and overlapping challenges, and we recognise that the Caribbean Development Bank contributes to supporting resilience, stability and development across the region. Nevertheless, given the pressures on the aid budget, it is right that Parliament seeks clarity on priorities, governance and outcomes. The special development fund is the bank’s primary concessional window, and the 11th replenishment comes at a moment of acute vulnerability for many Caribbean states. Hurricanes and extreme weather events are increasing in frequency and severity, placing extraordinary strain on infrastructure, public finances and social systems. Disaster preparedness, climate resilience and rapid recovery must therefore be central to how these funds are deployed.

My first question to the Minister is about priorities. What strategic objectives has the UK pressed for in this replenishment, and did the bank agree to them? How will funding balance long-term development with urgent disaster response, particularly for the small island developing states repeatedly hit by hurricanes? Secondly, what influence does the UK retain as a contributor? Can the Minister set out how the UK uses its voice within the Caribbean Development Bank to shape investment decisions, policy standards and value for money? How closely is that aligned with wider UK development and foreign policy objectives in the Caribbean?

Briefly, I will turn to measurement and accountability. What criteria will be used to assess whether this replenishment is delivering results? How will those outcomes be tracked and what reporting will be provided to Parliament? Will the Government commit to regular updates on the impact?

There is also a growing geopolitical context that cannot be ignored. China has increased its footprint across the Caribbean through finance and infrastructure, so how is the development bank ensuring that its lending offers a transparent, compelling and high standards alternative? What role is the UK playing in reinforcing those safeguards?

On preparedness and recovery, can the Minister update the Committee briefly on how the bank is working with the private sector, including the world-class insurance industry in the City of London, to improve risk insurance, catastrophe financing and faster recovery after hurricanes?

His Majesty’s official Opposition recognise the importance of the Caribbean Development Bank, and we will not oppose the statutory instrument this evening, but, of course, scrutiny matters. Clear priorities, measurable outcomes and transparent reporting will be essential if the funding is to deliver real resilience for Caribbean nations and value for money for the UK taxpayer. I look forward to hearing the Minister’s response.