The United Kingdom government has been told to explain why £250 million ($318.3 million) of its shrinking aid budget has been handed to its development finance arm for Ukraine reconstruction.
British International Investment, or BII, is being investigated by a parliamentary committee over “partnerships” with super-rich “elite” business leaders, often in middle-income countries, in fossil-fuel projects, or funneled through tax havens.
At last week’s Ukraine Recovery Conference, the U.K. allocated £250 million to BII for post-war rebuilding which — after inquiries by Devex — it acknowledged will come from the aid budget.
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About the author
Rob Merrick
Rob Merrick is the U.K. Correspondent for Devex, covering FCDO and British aid. He reported on all the key events in British politics of the past 25 years from Westminster, including the financial crash, the Brexit fallout, the "Partygate" scandal, and the departures of Boris Johnson and Liz Truss. Rob has worked for The Independent and the Press Association and is a regular commentator on TV and radio. He can be reached at rob.merrick@devex.com.
