The UK government has announced a new partnership with the financial sector to unlock growth in the UK and overseas, with a focus on sustainable economic development. Minister of State for Development Anneliese Dodds revealed plans to invest up to £100 million in MOBILIST, the UK’s flagship public markets programme.
A statement from the Minister’s office, signed by Ndidiamaka Eze, Senior Press & Public Affairs Officer, outlined the government’s commitment to harnessing the power of the private sector to mobilise finance for emerging markets. The partnership aims to support economic growth, sustainable development, and climate action in local markets, with a focus on the Global South.
The MOBILIST programme will provide businesses with anchor funding and expert advice to list on stock exchanges worldwide, attracting significant private investment. The investment is expected to generate between £400 million and £600 million in new investments across emerging markets in Asia, Africa, and Latin America.
The UK government also celebrated the issuance of the first Climate Investment Fund (CIF) Capital Markets Mechanism (CCMM) bond, which raised $500 million for energy and clean technology projects in low- and middle-income countries. The CCMM is a new financial mechanism launched by the Prime Minister at COP29, designed to leverage future loan repayments by issuing bonds on capital markets.
Minister Dodds praised the UK’s financial services sector, highlighting its expertise and experience in driving growth and investment. She emphasized the government’s commitment to working with the sector to deliver on the Plan for Change, tackling climate change, and driving growth at home.
UK Climate Minister Kerry McCarthy welcomed the partnership, stating that it marks a “historic moment” in tackling the climate crisis. The partnership is expected to support the global clean energy transition, drive sustainable growth, and create new investment opportunities.
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