Foreign Secretary Liz Truss launches £9billion ‘network of liberty’

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Liz Truss is revamping development finance to allow more countries dependent on cash from brutal regimes to replace it with UK-backed funding for infrastructure projects. It will also create new British jobs in construction and engineering, with the North and Midlands expected to particularly benefit from contracts on environmentally-friendly projects.

The reform is part of the Government’s “network of liberty” strategy to strengthen ties between free-market economies and the developing world.

Ms Truss will launch the British International Investment by ringing the market-opening bell at the London Stock Exchange this morning. 

Around £1billion of government cash and £8billion of private finance will be generated by 2025.

The Union Flag will be stamped on financing for schemes across southern Asia and the Caribbean as well as Africa, which has been the traditional focus.

Developing countries will be top of the list for funding towards infrastructure and green technology. The Foreign Secretary said: “When freedom-loving democracies invest in infrastructure and supply expertise, it makes countries freer, wealthier and more secure.

“This is a win-win. It benefits Britain by creating jobs and opportunities for our people.

“And it helps grow economies across Asia, Africa and the Caribbean while drawing them closer to free-market democracies and building a network of liberty.”

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