Trade Agreements: Overseas Aid

(asked on 12th March 2021) - View Source

Question to the Department for International Trade:

To ask the Secretary of State for International Trade, what assessment she has made of the effect of the decision to reduce funding for Official Development Assistance on (a) securing and (b) enhancing future trade relationships; and if she will make a statement.


Answered by
Greg Hands Portrait
Greg Hands
Minister of State (Department for Business and Trade)
This question was answered on 19th March 2021

The seismic impact of the pandemic on the UK economy has forced us to take tough but necessary decisions, including temporarily reducing the overall amount we spend on Official Development Assistance (ODA).

We remain a world leading aid donor, spending 0.5% of Gross National Income (GNI), which means we will spend more than £10 billion next year on ODA, with trade remaining one of our priorities for our ODA spend.

We remain committed to enhancing our trading relationships with developing countries, including through implementing and improving both our Economic Partnership Agreements and the UK Generalised Scheme of Preferences.

We will return to spending 0.7% of GNI on ODA when the fiscal situation allows.

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