Economic Partnership Fund summary 2022 to 2023
Published 30 March 2023
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The Economic Partnerships Fund is a non-ODA fund under the umbrella of the International Programme. The Economic Partnerships Fund projects liberty and free enterprise by deploying UK expertise to broaden economic partnerships, championing improvements in the international economic system and free enterprise as a means to build global prosperity. The non-ODA budget for the Economic Partnerships Fund is £5.1 million for financial year 2022 to 2023.
The fund currently supports 14 pan-European projects, helps to develop deeper economic ties with the USA, and undertakes projects in South Korea, Vietnam, Taiwan, ASEAN, African and Latin American countries. We are working with other government departments to generate opportunities to channel British expertise abroad, for example:
A. Driving future UK investment into selected green sectors in Africa which have been identified as having high commercial potential for UK firms, through a combination of: (i) support to UK investors in identifying investible deals, (ii) boosting commercial readiness of target firms, (iii) disseminating subsector insights to UK firms, and (iv) pushing forward policy recommendations on Market Access Barriers.
B. Supporting energy efficiency and diversification in Europe following illegal invasion of Ukraine. We have prioritised projects which (i) showcase the UK’s leading offshore wind sector, attracting export and investment wins; (ii) enhance UK nuclear partnerships, particularly with respect to small modular reactor technology; and (iii) promote UK policy leadership and commercial opportunities particularly through support to the Baltic states in developing and operating renewable energy and alternative green energy technology.
C. Support UK MedTech companies in leveraging the foreseen growth in the ASEAN MedTech sector through analysis and direction to ASEAN counterparts, and developing a pipeline of investment or trade opportunities for the UK.
D. In cooperation with the British Council in Greece, we are organising a series of discussions, workshops/B2B meetings, study visits and knowledge partnerships on scientific and tech megatrends such as AI, quantum technologies. This will promote UK leadership in new and emerging technologies, consolidating the UK’s reputation as the number one place in Europe to collaborate with and/or start and grow a tech business.
E. We are providing support to the Pemba City (Mozambique) infrastructure & energy transition plan. The Pemba City infrastructure plan is one of the requirements for Pemba City to join the World Energy Cities Partnership, an organisation whose member cities are globally recognised as international energy capitals. Once approved, the plan will also open up opportunities for UK investments in climate-resilient infrastructure including ports, buildings, and roads.
F. The development of a roadmap aimed at leveraging the UK’s expertise in Modern Methods of Construction for Social Housing and Infrastructure to support Re-build in Ukraine. The roadmap will seek to generate opportunities to promote UK standards and approaches and increase our presence in the Ukraine’s construction sector.