International Cooperation
The question
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what budget has been allocated to the Communities of Expertise established following the Global Partnerships Conference in each financial year to 2029-30.
Answered by Chris Elmore
British International Investment (BII) will invest over £1 billion over the next five years through a new climate initiative called British Climate Partners (BCP), expected to unlock an additional £3.5 billion in private capital over the lifetime of the investments.
This initiative will mobilise investment to support the clean energy transition in high emitting emerging markets with an initial focus on Asia. The majority of funding for the initiative will come from BII's existing assets, although Official Development Assistance funding to BII will also support it.
On other matters the Rt Hon Member asked about, details of the Global Research and Technology Development (GRTD) portfolio and its anticipated impact can be found on the Dev Tracker website and in the GRTD Approach Paper published on GOV.UK; and Communities of Expertise activities are embedded within wider programme and research spending - rather than managed under a standalone budget line or business case - which enables UK and global experts to be brought together to respond to partner country priorities, as and when required.
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