The UK government has announced plans to spend millions of pounds to help countries prepare for potential humanitarian disasters. This move is part of a significant restructure of the country’s development policy, in a bid to reduce the impact of future climate emergencies and ensure developing countries have easier access to financial support during times of crisis. The aid plan will support poorer countries with faster access to funds during emergencies, without requiring repayment during times of crisis, along with innovative programs for building resilience in the face of disaster.
Reports suggest that the 140-page policy document, to be released on Monday, has been endorsed by prominent international philanthropists, finance chiefs and political leaders. The paper is expected to encourage partnership building, taking an international approach towards climate change, Covid-19 and conflict. The policy document will stress the importance of wealthier states not just handing out money to reduce poverty but finding new ways to tackle extreme poverty, based on mutual respect and partnerships that inspire trust.
The UK has pledged to spend approximately 0.5% of its national income on foreign aid each year, translating to about £12 billion in 2022. Although the government’s plan does not involve increasing the amount of money spent, the policy document does announce how to make this budget go further. The plan includes a new £150 million “resilience and adaptation fund,” which will take 15% of the UK’s humanitarian aid money to increase funding available to support countries in times of crisis. The remaining budget for humanitarian aid in 2024 will be invested in drought management programs and emergency food and water provisions in a bid to combat the existing problems around world food shortages.
The UK is expected to collaborate with international financial institutions, including the World Bank and the International Monetary Fund, to unlock more private funding to speed up the progress towards meeting the UN’s sustainable development goals. In 2015, these objectives included reducing poverty, hunger, and inequality, while increasing education, health provisions, and action towards climate change. Although these targets are unlikely to be met by the 2030 deadline, the plans hope to channel investment from private mobility funds, such as pension funds, to reach the UN goals.
Andrew Mitchell, the UK development and African minister, has described the White Paper as a glimmer of hope in dark times, stating “Our world is troubled and fragmented…The White Paper is our plan to make the world a better and safer place with solutions that are in the UK’s gift to deliver. We have the will and the way to make a difference.
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