Developing World: Debt Reduction - Question

Part of the debate – in the House of Lords am 3:18 pm ar 13 Chwefror 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Lord Cameron of Chipping Norton Lord Cameron of Chipping Norton Foreign Secretary, Foreign, Commonwealth and Development Office 3:18, 13 Chwefror 2024

We have doubled our commitments to climate finance. One of the successes of COP was that the climate finance funds are now considerable, running into many billions. I identify the problem more as small countries, particularly island and developing states, not being able to access that money because they do not have the expertise, the lawyers, the bankers, the officials and so on. That is a problem that my officials are trying to solve. In the area of debt itself, the climate resilience debt clauses that we are now writing into debt, which give states a holiday from debt repayments if they suffer a climate disaster or some other unforeseen event, can be a big part of the future too.