Written question asked by James McMurdock (Independent (affiliation)) on Thursday, 15 October 2026, in the House of Commons. It was due for an answer on Monday, 19 October 2026. It was answered by Kirsty McNeill (Labour) on Thursday, 22 October 2026 on behalf of the Foreign, Commonwealth and Development Office.

Development Aid: Loans

Question: To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, with reference to his Department's press release entitled UK calls for fundamental reset of global financial system for developing countries, published on 14 October 2026, what assessment his Department has made of the financial risks to the UK arising from the proposals to lengthen repayment terms, reduce interest rates and provide for debt restructuring for developing countries through multilateral development banks.

Answer: Reducing high debt service costs will create more fiscal space and allow partner countries to scale public investment. The government will also work in partnership with developing countries to support them to raise more domestic revenues, improving the efficiency of public spending, and tackling waste, corruption, and illicit flows. Delivery is managed through staff in the UK and overseas, the oversight of UK Delegations to the Multilateral Development Banks and established programme management processes.

Secondary information

Type: Written question
Reference: 35351
Session: 2026-27
Grouped for answer: Yes
Subjects: Debts Developing countries Development aid Development banks Loans
Link: View this Written question on www.parliament.uk