To ask the Secretary of State for International Development, what the outcomes of the UK-Africa Investment Summit 2020 were; and what plans he has to support to grassroots partnerships developed as a result of that summit.
27 January 2020
The Summit laid the foundations for new partnerships between the UK and African nations based on trade, investment, shared values and mutual interest. Billions of pounds of new commercial deals were announced highlighting the strength of the UK’s offer and existing relationship with Africa.
The UK also announced new initiatives and funding which will: strengthen the joint trading relationship, support African countries in their ambition to transform their economies, launch a major new partnership with the city of London, turbo-charge infrastructure financing, and enable Africa’s clean energy potential. For example, the Government announced it will be scaling up its Financial Sector Deepening Network programme by a further £320mn. This programme is aimed at strengthening financial systems across Africa to make them more attractive to international investors by providing support to countries to meet global standards and by deepening and driving cross-border banking across the continent.
I have placed a copy of the UK Government’s statement on the Summit in the Library of the House. The statement is also available on gov.uk.