Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what steps he is taking with Cabinet colleagues to help mitigate the impact of increases in interest rates on the debt repayments of developing countries.

The impact of changes in interest rates for developing countries' debt will depend on the terms of that debt, and any new debt they take on.

Those with the highest risk of debt distress receive grants from the Multilateral Development Banks (MDBs).

The Government is pressing for all creditors to offer loans with Climate Resilient Debt Clauses, which pause repayments if there is a natural disaster. UK Export Finance (UKEF) is the first export credit agency to offer these.

The Government will continue to work with its international partners in the Paris Club and the G20 to urgently address debt vulnerabilities in developing countries.