Let me come to the special drawing rights; I was about to go through more of the specific questions that Members asked. We have committed to channelling up to £4 billion of our special drawing rights. The first £1 billion has already been committed as additional funding to the IMF’s poverty reduction and growth trust. In addition, the Chancellor made a commitment in April this year to allocate another
£2.5 billion to the new IMF resilience and sustainability trust. That fills a crucial gap in the IMF’s toolkit. It provides affordable financing to low-income and vulnerable middle-income countries to address long-term challenges.
At the African Development Bank meetings that I attended in Ghana this year, I also explained that I was very keen to channel some of our SDRs through the ADB. Technically, the money does not come to us—it remains a shareholding in the bank. We cannot do that by ourselves; we have to do it collectively with some of the other owners of SDRs. I say that just to update the right hon. Gentleman that we are working on the matter. There are some technical issues as well.