The UK’s £14 billion aid budget is set for its biggest overhaul in years, with plans to use aid spending to help British exporters to invest in Africa and developing Asia.
International Development Secretary Penny Mordaunt has promised her department will experience a “big shift”, following years of controversy about the UK’s 0.7 percent of GDP
The new strategy would see UK companies given support to invest in poorer markets, on the principle that the aid budget should only grow if a part of that spending benefits the UK economy too. Ministers are said to be “frustrated” that French and German businesses have been more successful at exporting to the developing world, including to Commonwealth countries.
In the energy access space this could mean UK manufacturers being supported to deliver large-scale power projects in energy poor Commonwealth partners like Nigeria and Bangladesh.
With our huge expertise in clean coal, renewables and carbon capture, this could be a chance to bring energy to millions, unlock new markets AND boost UK plc.