To ask the Chancellor of the Exchequer, how much his Department has spent on the OECD debt transparency initiative to date; how many banks have disclosed information through that initiative; and what steps he plans to take to ensure that banks disclose the existence and details of loans to lower income country governments.
Answered on
16 May 2022
The Foreign, Commonwealth and Development Office provided a £460,594 grant for the pilot phase of the OECD’s debt transparency initiative (DTI), as reported on the UK’s Development Tracker website.
As an OECD-led initiative, it is not appropriate for the UK to disclose details of how many banks have submitted details of their lending. However, the UK remains fully supportive of the initiative and chairs the Advisory Board on the DTI to help progress its objectives. We also work through the G7 and G20 to build support for the DTI, as referenced in the G20 Finance Ministers and Central Bank Governors communique in February 2022, which encouraged private sector lenders to submit data to this initiative.