Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the Government plans to include the rechannelling of IMF Special Drawing Rights (SDR) to low-income countries within the 0.5 per cent Official Development Assistance budget.
The UK’s channeling of its Special Drawing Rights (SDR) provides valuable financial support to the poorest and the most vulnerable countries.
Departmental ODA budgets will be increasing significantly over the Spending Review period, from the £10 billion that was allocated in 2020 to at least £12.3 billion by 2024-25. The ODA scored through SDR channelling is additional to these growing departmental ODA budgets and will not require cuts to existing programming. As with all ODA eligible spend, it will count towards the UK’s annual ODA spending plans, in line with international rules.