The speech made by Yvette Cooper, the Foreign Secretary, in London on 19 May 2026.
Thank you very much. It is a great pleasure to be able to welcome everyone at here, in London, for the Global Partnerships Conference, and a huge pleasure, especially to be able to co-host this conference with South Africa, just as our two countries worked together last year on the replenishment of the Global Fund, helping to secure over £11 billion pounds in pledges to fight aids, tuberculosis, and malaria. And it is a pleasure, too, to co-host with the Children’s Investment Fund Foundation and British International Investment – the pioneering organisations that have done so much to advance the priorities that we all share.
This conference was designed to be a bit different from the normal international ministerial events that we hold. And so, I just wanted to start by acknowledging the incredible range of depth of experience, of expertise in this room and around this conference centre. From civil society, youth activists, major investors, philanthropists, tech entrepreneurs, experience of development past and ideas and interests for the future. The collective wisdom and insight that we need to harness together in the face of the most unprecedented global challenges. And I know that there’s many individuals, organisations, in this conference, who have long standing commitments to lifting people, communities, and countries out of poverty. And we’ve seen huge progress as a result of that incredible dedication. Over one and a half billion people, worldwide, lifted out of extreme poverty in recent decades. Healthy life expectancy around the world increased by over five years in just a decade. Over 100 million more children going to school, and nations benefitting from stronger job creation and growth. And as the British Foreign Secretary, I’m proud that the UK has played its part in that story of transformation, working with partner governments, and with many of you here today. And as we look forward now, as many of those same values that have underpinned that progress are enduring. Our sense of our shared humanity, that fundamental moral purpose to stand up against global disease and hunger, and to support those trapped in crises caused by conflict or climate change. And the deep distress we share, and injustice, and unfair inequalities that hold people back.
But we are here today because we know that change is needed. Because we know we need to do things differently. At a time when our world is more volatile, more contested, more unstable, than ever, and when our multilateral system is under strain. And we meet against the backdrop of the Strait of Hormuz crisis. A strait of water through which 90 ships a day used to pass but for the last three months, it’s been more like five. Heating oil for Asia, stuck in the Strait, fertilisers for Africa, stuck in the Strait, 20,000 seafarers, 800 ships just stuck in the Strait. The price effects felt on the other side of the world. The global economy is being held hostage and the global South is paying the biggest price. It’s affecting the planting season, too. The agricultural clock is ticking, and damage is already being done that will affect crop yields and food prices well into next year. As the World Food Programme has warned, some 45 million people in the global South are at risk of being pushed into acute hunger this year. The world risks sleepwalking into a global food crisis. And we cannot risk tens of millions of people going hungry because Iran has hijacked an international shipping lane.
And so that is why we need to act together in our response. The World Bank, the IMF, other institutions have an unparallelled ability to deliver emergency finance at a scale that’s needed to cushion the immediate impacts of the crisis. And with others, the UK has been using our voice and shareholder role to press for a step change in response, coordinated across the global financial system. We need faster coordinated action, multilateral development banks operating as a coherent whole, not just in parallel, aligned programming, quicker disbursement, specific support. to fertiliser markets, working closely with UN agencies. And with the World Food Programme, we’re already helping preposition food supplies, because we have to get ahead of the risks, not wait for the suffering to unfold before us.
But aid can’t operate alone. And that’s why Britain has led diplomatic efforts to press for the immediate reopening of the Strait, convening partners to defend the principle of the law of the sea, and why we’re preparing alongside France, a multilateral maritime mission to reassure shipping and get to trade moving when an agreement is in place, and supporting the negotiations, to fully reopen the Strait, free from restrictions and tolls, to get the global economy moving again. But the Hormuz crisis holds up a mirror to our wider challenges. This shows the importance of acting early and in partnership to mobilise support. The importance of political and policy responses to tackle the causes of crises, not just to mitigate their impacts. The importance of the rule of law. In this case, freedom of navigation, for prosperity and development, not just for order and stability. And the urgent need to address the underlying weaknesses in our economic resilience and our precarious food and energy security.
For us in the UK, that means, first and foremost, accelerating the clean energy transition. Instead of the fossil fuel roller coaster, the security independence. An economy of British owned renewable energy. Because renewable energy can’t get stuck in the Strait of Hormuz and can’t be hijacked by hostile states. This is a choice we are making for ourselves, but it is also true for many other countries as well. And so, in responding to this crisis, we should be turbocharging that shift, and it’s why I’m so pleased that we can announce today the BII’s investment, the British International Investment, additional investment, to deliver over £4.6 billion of climate investment in emerging markets to support the green transition, and to build energy security, too.
The reason that this matters is because the Strait of Hormuz is no outlier. Coming so soon after the energy price shock, the grain supply threats when Russia invaded Ukraine, or the supply chain crisis in COVID. This reflects a new era of geopolitics and geoeconomics, an era of global great power competition and global volatility, but also concurrent crises, from conflict, climate, from communicable disease. Where our interconnected world that has helped lift nations out of poverty and drive growth is turned against us to become a source of great vulnerability. At a time when violent conflict is on the rise around the world and greater than any time since the Second World War. And we’ve seen new levels and patterns of displacement and migration, tied also often to climate change as extreme weather and record temperatures destroy livelihoods. And also the new uncertainties from the pace of technological change. As AI, frontier technologies offer profound potential to give us new solutions around healthcare, around development, around economic growth. But also real risks of compounding global injustice and insecurity unless we respond. And, of course, a multilateral system in need of reform. At a time when development budgets in many donor countries, including here in the UK, are under financial strain or facing reductions.
So, in the face of these challenges, bold new approaches are needed, and we need to be honest that as well as keeping up with changing times, we need to address some of the deficiencies in some of the traditional ways we’ve done development in the past. The external blueprints, the paternalism, the policies that increased dependency rather than building resilience, and the reflex to act for others, rather than getting firmly behind local needs and priorities. So, as part of the UK’s response, we’ve held honest exchanges with partners about what we should do differently. And heard clearly the need and the demand for greater voice and agencies, for countries and communities to shape decisions that affect them, including global institutions and the global financial system.
As Mia Motley, the farsighted Prime Minister of Barbados has put it, seats at the table of decision making, where we can be seen, heard, become active agents in our own cause and lead our own development. And that lies behind the shifts that my friend and fellow minister, Baroness Jenny Chapman, has been leading in our UK development approach, as she will set out to you earlier this morning. Moving from donor to investor, from grants to expertise, putting partnership, and the focus on local needs at the centre of what we do, and putting those shifts hardwired into this conference today and tomorrow. Because the framing is about partnerships. Collective action on common challenges, on mutual respect, learning, and accountability. And a joint document that is not about traditional aid pledges, but about focussing on mobilising finance technology and new coalitions. And I want to pay tribute to Jenny and the FCDO team for bringing this event together.
So let me just then highlight three areas of what this looks like. On development finance, shifting the centre of gravity from traditional measures around public funding towards mobilising much wider investments and different forms of capital investment and support. For example, developing local capital markets to attract and allocate finance effectively, as we’ve done in Ethiopia, through support to their first public stock exchange, so that Ethiopian companies can tap into new funding. With UK Insurance sector, pioneering new private partnerships, that can help countries respond more quickly and effectively to natural disasters. And working through the most impactful bits of the multilateral system, such as the World Bank’s International Development Association, where every pound we invest unlocks four pounds of additional finance. Whilst backing calls for the reforms of the global financial system, including by tackling unsustainable debt, through expanding the common framework, and making it meet countries’ needs more quickly. We’re backing through Africa’s institutions to raise far more funding at scale. With our 650-million-pound contribution to the African development fund, helping leverage in up to 1.6 billion in grants and concessional loans, including issuing bonds on the London Stock Exchange for the first time. And moving from into also providing expertise, such as the tax advice that has helped Ghana, generate, an additional 100 million in revenue to invest in its own education and health priorities, far more than a traditional UK aid programme could have provided.
The second shift is to make sure we focus. our humanitarian and grant aid on the countries and the communities that need support most. Conflict is now one of the biggest drivers of extreme poverty across the world. Already over half of extreme poverty is concentrated in conflict affected, fragile states. And so, alongside our aid allocations to areas like Sudan and Lebanon, Palestine, were prioritising conflict resolution in each of those areas too. A focus that also supports our interest because conflicts that rage unresolved radiate instability across regions and continents. And it’s in our collective interest to support global health too. When we see the Ebola outbreak spread in and around the DRC, flagged by the WHO as being of clear international concern. And we also need a reset of the whole humanitarian system, as proposed, by UN Humanitarian Chief, Tom Fletcher, and organisations like the International Rescue Committee, rigorous prioritisation and shifting the power and resources to local partners that really understand the local contexts and needs. And UN reform, too, to help the UN play its indispensable role, to be more efficient, or effective and coherent, refocused on the core priorities and results in line with the UN 80 reform initiative.
But finally, I want to mention a further focus. that is about our values and also our shared interests. Because amidst the plethora of global emergencies, we can risk neglecting one that blights the safety and prosperity, equality, and freedom of half the world, including here in the UK. And that’s why the UK government has made tackling violence against women and girls a national mission. setting an unprecedented mission, a push to harm violence against women and girls in the UK in a decade. But we believe it also needs to be a global focus. Because at a time when one in every three women and girls, worldwide, will experience physical or sexual violence, these are not simply the statistics, but life scarred and generations that can bear those scars. And having heard firsthand on the Sudan-Chad border earlier this year, in Adre, some of the most harrowing stories of rape and sexual violence. We know that that kind of violence can pass through and scar whole generations and communities for years to come. And so tomorrow, here at this conference, we will say more about our upcoming international campaign, and the new coalition we seek to build involving multiple countries here at this conference.
So, in closing, let me thank you for being here and for all the discussions and the conversations about this event. This part of London is no stranger to being the basis for international cooperation. We’re holding this conference just a couple of miles from Greenwich’s Royal Observatory, from which the world agreed how to measure time. And that agreement, to create a single primary meridian, unlocked cooperation on trade or commerce, on global interactions. And here today, in a different time, on different terms, as an international community, with states, company, civil society, all represented, we’re discussing, again, the cooperation on the critical issues that will shape the coming decades, signing our jointly endorsed, Global Partnerships Compact. And I hope this shared endeavour that will carry us forward, whether it’s at the Hamburg Sustainability Conference, the multilateral events, or into the UK’s G20 presidency next year. Let me finish where I started, with the potential interest of all of those here, from so many different countries and backgrounds, to bring those partnerships across the world and across our communities together. For a world free from poverty, on a liveable planet, because we know it’s the partnerships that we build across the world, that make each and every one of us stronger at home.
Thank you very much.