Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether he has made an assessment of the potential merits of (a) the expanded use of financial guarantees modelled on the International Finance Facility on Education and (b) other new forms of development finance as part of the agenda for the G20 summit.

Guarantees can be an effective way for shareholders to expand lending from the Multilateral Development Banks (MDBs).

The UK has committed guarantees, including through the International Finance Facility for Education (IFFEd), that are unlocking $6 billion of additional MDB finance for Africa and Asia and $12 billion for Ukraine.

IFFEd is a powerful mechanism for unlocking additional finance and will be considered alongside other options in the UK's future use of guarantees.

At the World Bank and International Monetary Fund (IMF) Annual Meetings, the Foreign Secretary set out the UK's ambition to use its G20 Presidency to drive action on debt, mobilise greater private investment, strengthen resilience to shocks and improve support for fragile states.