<p>The impact of changes in interest rates for developing countries' debt will depend on the terms of that debt, and any new debt they take on.</p><p>Those with the highest risk of debt distress receive grants from the Multilateral Development Banks (MDBs).</p><p>The Government is pressing for all creditors to offer loans with Climate Resilient Debt Clauses, which pause repayments if there is a natural disaster. UK Export Finance (UKEF) is the first export credit agency to offer these.</p><p>The Government will continue to work with its international partners in the Paris Club and the G20 to urgently address debt vulnerabilities in developing countries.</p>