Development Aid
(asked on 20th June 2022) - View Source
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, how much UK Government funding has been spent through Development Finance Institutions in (a) Africa, (b) Asia, (c) the Americas and the Caribbean and (d) the Pacific in the 2021-22 financial year.
Development Finance Institutions (DFIs) provide finance to the private sector in emerging markets and developing economies using a combination of capital from shareholders and returns from historic investments. Multilateral DFIs also use their capital to borrow from financial markets. The table below sets out UK Official Development Assistance (ODA) funding provided in the form of new capital and/or core replenishment contributions to each DFI during the 2021-22 financial year. It also sets out the total amount of financing provided by each DFI during the 2021-22 financial year.
DFI | Regions Covered by the DFI | UK ODA funding in 2021-22[1][2] (£m) | Total Private Sector Commitments for relevant regions in FY 2021-22[3][4] ($bn) | UK shareholding (%) |
Bilateral DFI | ||||
British International Investment (BII) | Africa and South Asia | £661m | $2.3bn[5] | 100% |
Multilateral DFIs | ||||
African Development Bank* (AfDB) | Africa | £212m | $2.1bn | 1.7% |
Asian Development Bank* (AsDB) | Asia; the Pacific | £29.4m | $4.3bn | 1.9% |
Asian Infrastructure Investment Bank* (AIIB) | Asia, the Americas; the Pacific | £0m | $2.0bn[6] | 2.9% |
Caribbean Development Bank* (CDB) | The Americas and the Caribbean | £5.25m | $9m | 9.3% |
European Bank for Reconstruction and Development* (EBRD) | Central Asia; North Africa | £0m | $1.7bn[7] | 8.5% |
International Finance Corporation (IFC) | Africa; Asia; the Americas and the Caribbean; the Pacific | £39.9m | $20.7bn[8] | 4.7% |
* These Multilateral Development Banks (MDBs) provide financing to both the public and private sector, unlike other DFIs in the list.
[1] This table captures the UK's ODA funding in the form of new capital and core replenishment contributions only. The UK also provides some funding through Trust Funds to some of these DFIs for specific bilateral projects.
[2] The UK contributions to the AfDB, AsDB, CDB and EBRD are not used exclusively for private sector investment, as they are by other DFIs in the list.
[3] DFIs have different reporting periods. Data on total private sector commitments is reported for the following period for each DFI in the table above: i) BII: Jan-Dec 2021; ii) AfDB: Jan - Dec 2021; iii) AsDB: Jan-Dec 2021; iv) AIIB: 6th April 2021 - 5th April 2022; v) CDB: Jan - Dec 2020; vi) EBRD: Jan-Dec 2021; vii) IFC: July 2020 - June 2021.
[4] Some DFIs only report financing for non-sovereign operations. This is mainly private sector investment but can also include financing for sub-sovereigns.
[5] Converted to USD using an exchange rate of GBP1 = USD 1.22
[6] This is total financing for AIIB non-sovereign operations. The vast majority of this financing falls within the relevant regions, but some financing for projects in other regions (e.g. the Middle East) is also captured.
[7] Converted to USD using an exchange rate of EUR1 = USD 1.054.
[8] Due to IFC Regional classifications, this figure also includes IFC investment commitments (long and short-term) to Europe and the Middle East.