Category: Press Releases

The press release issued by the Foreign Office on 16 April 2024.

The UK participated in a shareholder statement on Multilateral Development Bank Callable Capital, responding to the G20 Review of MDB Capital Adequacy Frameworks.

The G20 Independent Review of Multilateral Development Banks’ (MDB) Capital Adequacy Frameworks (G20 CAF Review) provided thoughtful recommendations for boosting MDB financial capacity by stretching existing resources and pursuing innovative measures. The G20 Presidencies of Italy, Indonesia, and India were all key to launching and driving forward the G20 CAF Review. The implementation of several of its recommendations by the MDBs has already generated significant additional MDB financing capacity.

In a strong demonstration of our support for the MDBs, shareholders have collectively committed a combined $796 billion in callable capital to these institutions, which can be drawn on or “called” in the extremely remote scenario that an MDB is unable to meet its financial obligations. In the 80 years since the Bretton Woods Conference, there has never been a call on the callable capital of the MDBs due in part to their preferred creditor status. The G20 CAF Review found that the processes for these institutions making and shareholders responding to a call are not well-understood. The G20 CAF Review also recognised that clarifying these processes has value, and this clarity is an important part of implementing the review’s recommendation on callable capital.

Over the last 6 months, shareholders accounting for over half of the callable capital at the MDBs worked with the institutions themselves to clarify the processes for the MDBs making and shareholders responding to a call on callable capital (in the highly unlikely event a call were ever necessary). Through this work, the MDBs have shown how unlikely a call on callable capital would be, and we have demonstrated strong shareholder capacity to respond to a call if ever necessary. We have also demonstrated the strong legal foundations upon which our callable capital subscriptions rest, and we have reaffirmed our full recognition of and strong backing for those subscriptions (see links to AfDB, ADB, EBRD, IDB, and IBRD callable capital reports).

Based on the work done, we see scope for additional efforts that involve outreach on the results of this exercise and exploration of ways to possibly reflect the value of callable capital in MDB financial policies, in collaboration with the MDBs and independent experts.

Shareholders participating in the exercise had the following comments about the results:

Janet Yellen, Treasury Secretary, United States:

Based on this important work, shareholders and the MDBs have gained a fuller understanding of their callable capital subscriptions and appreciation for their value.  We firmly stand behind our callable capital commitments, which are backed by the full faith and credit of the United States.

SUZUKI Shunichi, Minister of Finance, Japan:

Japan praises the progress of this important work to uncover the value of the callable capital in line with the G20 CAF review recommendations.  As one of the major shareholders of the MDBs, Japan firmly stands behind our callable capital commitments and calls on all stakeholders to continue dialogue to better reflect the value of the callable capital in the financial capacity of the MDBs based on this exercise.

Svenja Schulze, Federal Minister for Economic Cooperation and Development, Germany:

Germany is and always will be a strong partner of the multilateral banking system.  We stand firmly behind our commitments on callable capital.

Jeremy Hunt, Chancellor of the Exchequer, and Andrew Mitchell, Minister of State for Development and Africa, United Kingdom:

We fully support the continued implementation of the G20 CAF Review including the recommendation on callable capital, which will increase MDB lending volumes to achieve further progress against the Sustainable Development Goals.  The UK continues to stand behind our callable capital commitments, an important component of our support to the MDBs.

Nirmala Sitharaman, Finance Minister, India:

As called upon by the G20 leaders in their New Delhi Declaration 2023, India is committed to the MDBs’ exercise on callable capital.  This can facilitate MDBs to become better, bigger and more effective in meeting the development financing needs of low income and developing economies.

Sang Mok Choi, Deputy Prime Minister and Minister of Economy and Finance, Republic of Korea:

The Republic of Korea appreciates the work done in the callable capital exercise, which led to shareholders and MDBs gaining better understanding of the value of callable capital and confirming their capacity to respond to calls.

Carlos Cuerpo, Minister of Economy, Trade, and Business, Spain:

Spain is honoured to participate and contribute towards a better understanding of callable capital in Multilateral Development Banks, and stands firmly behind its commitments of subscribed capital in MDBs.

Guy Parmelin, Federal Councillor, Switzerland:

Switzerland strongly supports the very important work done to better understand the value of callable capital and how shareholders may respond to a call.

Vincent VAN PETEGHEM, Deputy Prime Minister and Minister of Finance, and Caroline GENNEZ, Minister of Development Cooperation and of Major Cities, Belgium:

Belgium strongly supports the very important work done to better understand the value of callable capital and how shareholders could respond to a call.

Dan Jørgensen, Minister for Development Cooperation and Global Climate, Denmark:

We need to move from billions to trillions and deliver on much needed climate and development finance.  The MDB’s have made impressive progress so far in delivering increased finance and Denmark will continue our strong support for the MDB’s in their continued efforts.  The callable capital exercise and the continued implementation of the CAF recommendations are instrumental in reaching our joint goal of delivering on bigger, better and bolder banks.

Nicola Willis, Minister of Finance, New Zealand:

New Zealand welcomes the MDB Callable Capital Exercise.  This exercise is important as it provides stakeholders with a greater understanding of the process around callable capital and its potential value to boost MDBs’ financial capacity.  New Zealand stands behind our callable capital commitments to the MBDs we are shareholders of.

Background

Throughout this statement, the MDBs refer to the African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction (EBRD), Inter-American Development Bank (IDB), and International Bank for Reconstruction and Development (IBRD).

The press release issued by the Foreign Office on 16 April 2024.

Statement by Ambassador Barbara Woodward at the UN Security Council meeting on Libya.

President, I thank Special Representative of the Secretary-General  Bathily and Ambassador Yamazaki Kazuyuki for their briefings today.

President, as we’ve heard, the political impasse in Libya is unsustainable. Recent clashes at the Ras Ajdar border are a reminder of the fragility of Libya’s security landscape and the devastating impact any escalation could have on ordinary Libyans.

In this context, I wish to make three points this morning:

First, the only sustainable pathway to improving the security situation is through the UN-facilitated political process and an inclusive political settlement. We therefore, once again, call on Libya’s leaders to work with the SRSG constructively, and without preconditions, to resolve the outstanding issues delaying elections. We support SRSG Bathily’s call for this council, and the international community, to be united in support of the UN process. Municipal council elections would be an important step in the right direction, giving Libyans a voice in their leadership. I urge Libya’s leaders to provide the High National Election Commission the funding and security guarantees needed to deliver these elections as soon as possible.

Second, the political stalemate leaves Libya vulnerable to the influence,  or as SRSG Bathily put it, the fierce rivalry, of external actors seeking control of the country’s security and economy, risking further instability, including beyond into the Sahel. Flagrant and malign breaches of the arms embargo contribute to this, and we note reports of large Russian Naval vessels delivering military supplies to the Libyan National Army on 8 and 14 April.

As we heard from SRSG Bathily, the political stalemate also exacerbates challenges for civil society, free speech, and women. Basic human rights and democratic values are being undermined.

Seven months on from September’s floods, recovery and reconstruction efforts in Derna and other affected areas remain politicised. International institutions are frozen out and access is constrained. We continue to urge Libyan authorities to agree a transparent model for recovery and reconstruction and recommend the authorities use the technical expertise offered by the United Nations Development Programme to help those Libyans who continue to suffer.

In conclusion, President, Libya’s future prosperity is reliant on a politically stable and unified country with transparent and accountable institutions. The UK will continue to work with partners and support the SRSG and UNSMIL towards this aim. I call once again on Libya’s leaders to engage constructively with the SRSG and to fulfil their responsibilities to the Libyan people.

The press release issued by the Foreign Office on 16 April 2024.

The UK has announced life-saving assistance for hundred of thousands of Ethiopians at a pledging event in Geneva.

• the UK seeks to galvanise the international community and has pledged vital life-saving assistance to help hundreds of thousands of Ethiopians, as their humanitarian crisis worsens
• new funding will support people facing the devastating impacts of climate change, conflict, disease outbreaks and economic challenges
• the Deputy Foreign Secretary visited Ethiopia and witnessed the crisis first-hand in Tigray in February

The UK will today [Tuesday 16 April] pledge humanitarian aid to provide lifesaving support for hundreds of thousands of Ethiopians, including over 435,000 children and mothers suffering from malnutrition and more than 230,000 needing access to emergency healthcare.

The new UK funding will treat the worst cases of acute malnutrition, covering critical gaps in nutrition supplies. It will also increase access to safe water and sanitation, while providing emergency cash and social protection to increase food security and resilience in vulnerable communities. The UK’s support will boost Ethiopians’ access to primary health care services including access to ambulance care, antenatal care, vaccinations, and ensuring women have a skilled healthcare worker when they give birth.

The Deputy Foreign Secretary Andrew Mitchell will announce the £100 million boost to UK funding at the UN Office for the Coordination of Humanitarian Affairs (OCHA) Ethiopia pledging conference in Geneva today where he will call on the international community to step up support to address the worsening situation.

Ethiopia faces one of the world’s largest humanitarian crises, with over 21 million people in need of assistance. Over 15 million people face food insecurity, and over 4 million people are internally displaced. Tigray and Amhara are some of the worst affected regions, with an El Niño-induced drought continuing to affect close to 5 million people.

Deputy Foreign Secretary Andrew Mitchell said:

The humanitarian crisis in Ethiopia is at a critical level. When I visited earlier this year I saw first-hand how conflict and drought are devastating communities – with women and young children being the hardest hit.

The UK is doing it all it can to ensure communities most in need across Ethiopia have access to nutrition, healthcare, water and sanitation. The international community must act now if we are to avoid the humanitarian crisis escalating further.

As vulnerable countries such as Ethiopia are impacted by more frequent and more severe drought and flooding, the UK is supporting them to adapt and build resilience for the long term. Funding will boost the climate resilience of communities and provide support for those displaced due to drought and extreme weather.

Today’s conference is co-hosted by the UK, the Government of Ethiopia, and the UN Office for the Coordination of Humanitarian Affairs (OCHA). The Deputy Foreign Secretary will call for the international community to continue its humanitarian efforts. He will also outline the importance of ensuring funding goes to those who need it the most and improving data analysis to increase the efficiency of the response.

Background

• the Deputy Foreign Secretary Andrew Mitchell visited Ethiopia in February, where the UK announced £100 million for Ending Preventable Deaths
• forecasts indicate that the number of critically food insecure people is projected to peak at 10.8 million between July and September. Malnutrition rates in several regions have significantly increased, surpassing critical thresholds
• the white paper and Global Food Security Summit (GFSS) and 2023 campaign set the stage for renewed UK leadership on humanitarian action and food security. This includes a strong focus on resilience building, prevention of malnutrition through the health system, and more climate resilient agriculture and food systems
• last year the UK doubled its humanitarian funding to Ethiopia from £42 million to £80 million in light of its increased needs. This year the UK will continue to scale up its work, providing £100 million for humanitarian assistance to avert a serious humanitarian crisis
• £30 million of this funding will be used to treat acute malnutrition for those in greatest need, covering critical gaps in nutrition supplies
• the remaining funding will target health, water and sanitation deficiencies as part of efforts to prevent and reduce malnutrition, while funding emergency cash and social protection to increase food security and resilience for vulnerable communities

The press release issued by the Foreign Office on 15 April 2024.

Statement by Ambassador Barbara Woodward at the UN Security Council meeting on Ukraine.

Thank you President, and I thank Director-General Grossi for his briefing. The Director-General’s 7 April report of drone strikes hitting the site of Zaporizhzhia was deeply concerning, as were reports from the IAEA team at the plant, of explosions and rifle fire on site and several rounds of outgoing artillery fire from nearby the plant.

Thankfully, the IAEA has since confirmed that the IAEA team on the ground were unharmed and there were no indications of damage to critical nuclear safety and security systems at the site. We thank the IAEA team for all of their efforts in monitoring the safety and security situation at the plant in extremely difficult circumstances.

This is, however, a stark reminder of the precarious safety and security situation at Europe’s largest nuclear power plant, caused by Russia’s unprovoked war against Ukraine.

There have been eight complete losses of power at Zaporizhzhia since August 2022. IAEA experts have not had complete access to all areas important for nuclear security and safety. And Russia continues to keep military equipment and personnel at the site, including vehicles in the Turbine Halls and defensive installations on the reactor roofs.

Other sites have also been affected. The Neutron Source installation in Kharkiv lost power twice in April and March due to shelling. The South Ukraine Nuclear Power Plant also lost connection to power lines. And the IAEA team at Khmelnytskyy Nuclear Power Plant was forced to take shelter four times in March due to air raids, putting the operating staff there under immense pressure.

Colleagues, it is vital to reduce the risk of a nuclear incident at Zaporizhzhia and across Ukraine. The UK echoes the Director-General Grossi’s appeal to abstain from any action which could violate the five concrete principles for upholding safety at ZNPP that he set out at the UN Security Council last May. We also call on Russia to allow the IAEA experts full and complete access to all areas of the plant.

One country, however, has a far greater ability to improve the nuclear safety and security situation in Ukraine than any other. Russia can hand back Zaporizhzhia to the Ukrainian authorities, end its war and remove all its troops from Ukraine’s sovereign territory.

I thank you.

The press release issued by the Foreign Office on 15 April 2024.

Stephen Kavanagh, the current Executive Director of Policing Services of INTERPOL, arrived in New Delhi today for high level meetings with the Indian government to discuss the future of international crime-fighting.

Mr. Kavanagh began his trip with a visit to India Gate, before holding bilateral meetings with senior Indian government representatives, including Director of the Central Bureau of Investigation (CBI), Praveen Sood. At the CBI headquarters, they exchanged views on tackling law enforcement challenges and increasing cooperation between countries.

They spoke about the need for deeper international co-operation to counter terrorism, as well as to combat drug smugglers and technology enabled crime, including the safe use of artificial intelligence.

On his visit to India, Stephen Kavanagh said:

India is a critical partner for INTERPOL, whose agencies have been at the forefront in tackling multi-dimensional criminal activities at the global level.

Should I be elected as the Secretary General of INTERPOL, I would work with members to drive an increase in data and analysis, delivering operational successes against drugs, cyber and crimes against wildlife and the environment. My vision for INTERPOL is underpinned by principles that I believe in strongly: impact through the delivery of tangible operational outcomes, innovation to outsmart criminality, working inclusively and openly for all our member countries, and serving always with integrity, humility, and professionalism.