Baroness Chapman of Darlington corrected a written answer on Financial Services: Trade Competitiveness

4 November 2025 · Lords written answer · Foreign, Commonwealth and Development Office

Lord Taylor of Warwick (Non-affiliated, Life peer) asked written question HL11051 on 15 October 2025. Baroness Chapman of Darlington answered on 3 November 2025 for the Foreign, Commonwealth and Development Office, and Baroness Chapman of Darlington corrected the answer on 4 November 2025. The figure $500 billion in the original became $500 million in the correction. Altogether 2 words differ between the two versions.

The question

To ask His Majesty's Government what assessment they have made of the impact of their partnership with the World Bank on the position of the City of London as a global financial centre.

Original and corrected answer

Struck through: original only. Bold: correction only.

Original	Corrected
The UK works closely with the World Bank (WB) to strengthen the position of the City of London as a global financial centre. The World Bank Group has 70 staff members in London, which is one of three International Finance Corporation (IFC) Treasury Hubs. IFC, WB's private sector arm, has an active committed investment portfolio of over $5.2 billion with UK businesses. The UK is the largest investor country for the Multilateral Investment Guarantee Agency (MIGA), with an exposure of $7.4 billion. The City is also a centre of innovation. For example, last month, with support from the UK, the IFC sold $500 ~~billion~~ of assets on the London Stock Exchange in a breakthrough transaction which will create a new asset class for UK and international investors.	The UK works closely with the World Bank (WB) to strengthen the position of the City of London as a global financial centre. The World Bank Group has 70 staff members in London, which is one of three International Finance Corporation (IFC) Treasury Hubs. IFC, WB's private sector arm, has an active committed investment portfolio of over $5.2 billion with UK businesses. The UK is the largest investor country for the Multilateral Investment Guarantee Agency (MIGA), with an exposure of $7.4 billion. The City is also a centre of innovation. For example, last month, with support from the UK, the IFC sold $500 million of assets on the London Stock Exchange in a breakthrough transaction which will create a new asset class for UK and international investors.

Original

Corrected

The UK works closely with the World Bank (WB) to strengthen the position of the City of London as a global financial centre. The World Bank Group has 70 staff members in London, which is one of three International Finance Corporation (IFC) Treasury Hubs.
IFC, WB's private sector arm, has an active committed investment portfolio of over $5.2 billion with UK businesses. The UK is the largest investor country for the Multilateral Investment Guarantee Agency (MIGA), with an exposure of $7.4 billion.
The City is also a centre of innovation. For example, last month, with support from the UK, the IFC sold $500 ~~billion~~ of assets on the London Stock Exchange in a breakthrough transaction which will create a new asset class for UK and international investors.

The UK works closely with the World Bank (WB) to strengthen the position of the City of London as a global financial centre. The World Bank Group has 70 staff members in London, which is one of three International Finance Corporation (IFC) Treasury Hubs.
IFC, WB's private sector arm, has an active committed investment portfolio of over $5.2 billion with UK businesses. The UK is the largest investor country for the Multilateral Investment Guarantee Agency (MIGA), with an exposure of $7.4 billion.
The City is also a centre of innovation. For example, last month, with support from the UK, the IFC sold $500 million of assets on the London Stock Exchange in a breakthrough transaction which will create a new asset class for UK and international investors.

The question and answer on the Parliament website.

Receipt

Read from	https://questions-statements-api.parliament.uk/api/writtenquestions/questions/1841748?expandMember=true
Date read	15 October 2026
SHA-256	`0a2d53fbe3dec3beaebde6dcb1d364f9ccc6746d9c69b9bce4d42de988bab432`