Energy Supply: International Cooperation
The question
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what steps her Department is taking to support energy security through international co-operation following the 2026 Spring Meetings of the International Monetary Fund.
Answered by Chris Elmore
The International Financial Institutions (IFIs) are the primary financing mechanism to respond to the impacts of the Middle East crisis on developing countries, including for energy security. They have an unparalleled ability to deliver emergency finance at scale to help deal with the immediate impacts in a crisis, as well as longer term policy reforms and investments that build resilience for the future.
Thanks in part to UK pressure, the IFI crisis toolkit is stronger than ever. The World Bank has made $20-25 billion of additional financing available and the International Monetary Fund has roughly $300 billion in total financing capacity to response to balance of payments crises. At the Spring meetings in Washington, the Minister of State for International Development pushed for a forward leaning, coordinated IFI response. The UK continued this work at the Global Partnerships Conference in London on 19-20 May.
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