The Ethical Trade Initiative (ETI) has joined a call urging the UK Prime Minister not to renege on a 0.7% overseas aid commitment, warning it could impact global supply chains.
ETI’s executive director Peter McAllister has joined leaders from Business in the Community, Business Fights Poverty, the Confederation of British Industry (CBI), International Chambers of Commerce, The Partnering Initiative and UN Global Compact Network UK in writing to Boris Johnson.
The group says while it recognises the economic impact of the coronavirus pandemic on the UK, rowing back on the aid commitment would hamper gains made on social and economic development, which are prerequisites for businesses to trade.
“UKAid is responsible for contributing to some of the most impactful projects across British businesses and across the economies in which they invest and source from. Helping build more equitable and resilient societies also strengthens global supply chains. Investment overseas is an investment in the UK’s prosperity.
“As people are battling with significant financial, economic and social repercussions of the pandemic, they are looking to government and business to act responsibly, step up and rebuild better. Now is not the time to withdraw.”