International Monetary System

(asked on 21st July 2021) - View Source

Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, pursuant to the Answer of 19 July 2021 to Question 33300, whether the value of any Special Drawing Rights channelled by the UK to low income countries will be counted towards the UK Government's target of spending 0.5 per cent of GNI on Official Development Assistance in 2021.


Answered by
Nigel Adams Portrait
Nigel Adams
This question was answered on 8th September 2021

The UK counts a proportion of Special Drawing Rights (SDRs) channelled for lending to low-income countries as Official Development Assistance, in line with the OECD Development Assistance Committee (DAC) rules for concessional loans through multilateral organisations. The Government remains committed to international development and providing support to the world's poorest, and intends to return to the 0.7% target when the fiscal situation allows. The UK remains one of the leading development donors in the world, providing £10 billion this financial year towards our key international development priorities including poverty reduction, climate change, and global health security.

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