UK pledges £100m to unlock investment in emerging markets

The UK Minister of State for Development, Anneliese Dodds, has announced up to £100 million for MOBILIST, the UK’s flagship public markets programme.

A statement by the British High Commission in Lagos, explains that the funding aims to unlock investment opportunities in emerging markets, supporting businesses that drive sustainable development and economic growth.

It says that the government will partner with MOBILIST to advance its Plan for Change, focusing on tackling climate change while boosting both domestic and global economies.

Speaking at the London Stock Exchange, Minister Dodds emphasised the importance of leveraging the expertise of the UK’s financial sector to accelerate the achievement of the UN’s Sustainable Development Goals.

She highlighted the recent issuance of the Climate Investment Funds (CIF) Capital Markets Mechanism bond, which raised $500 million for clean energy projects in developing countries. The bond, launched by the UK Prime Minister at COP29, is designed to attract private investment for sustainable initiatives.

The statement explains that the UK government’s modern development approach prioritises private-sector involvement to mobilise finance for emerging markets, creating new export opportunities and enhancing economic stability.

Minister Dodds reiterated the government’s commitment to reforming the global financial system to ensure long-term growth and resilience. The new MOBILIST funding is expected to generate between £400 million and £600 million in investments across Asia, Africa, and Latin America, fostering sustainable development and climate action.