Question

To ask His Majesty's Government whether any International Climate Finance funding delivered through UK Export Finance will be affected by the announcement by the Prime Minister's Office of 22 July, Cheaper travel for millions with a third off fares; and, if so, which projects are affected, and what the terms of the loans will be.

The capping of bus fares announced on 22 July 2026 will have no impact on financing or insurance support provided by UK Export Finance, including for its loan guarantee supporting Dints International’s contract to supply renewable energy and infrastructure work in Angola.

The Government is reprioritising £454 million from the Department for Energy Security and Net Zero’s budget, including by switching £400 million of grant funding set aside for future international climate finance projects into loans. The remaining £54 million savings are expected from underspends in the Department’s budget.

This will provide more flexible ways to meet the Government’s international climate objectives.

The Government remains committed to spending 0.3% of Gross National Income on Official Development Assistance.