Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what consideration he has given to allow British International Investment to borrow from the financial markets to support the expansion of its international development goals.

In the first two years of British International Investment's (BII) current strategy (2022-2023), BII has invested approximately $3 billion into developing economies and mobilised an additional $2 billion in private capital on top of this. BII is evolving its approach to mobilising private capital, including through its new Mobilisation Facility announced by the Prime Minister at UNGA. As part of preparations for BII's next strategy, we will consider options to enable BII to continue mobilising private capital at scale.