§ Mr. CorbynTo ask the Chancellor of the Exchequer what the total loans by(a) the IMF and (b) the World Bank to Indonesia have been in each year since 1995; what (i) environmental, (ii) human rights and (iii) economic conditions were applied; and what monitoring has taken place in respect of these conditions. [57515]
§ Ms Hewitt[holding answer 2 November 1998]: Total loan disbursements from the IMF and World Bank to Indonesia since 1995 (US$ millions) are as follows:
IMF World Bank 1995 — 1,144 1996 — 959 1997 3,000 916 1998 (expected) 5,500 659 Note:
(a) (i) No environmental conditions are attached to IFM loans.(ii) No human rights conditions are attached to IMF loans.(iii) IMF financing to Indonesia has been conditioned on a programme of economic adjustment, involving a macroeconomic framework conducive to the return of economic and financial stability, a comprehensive strategy to restructure the financial sector, further trade and capital account liberalisation, and improvements in corporate structure and governance.(b) (i) All World Bank projects and programmes take account of environmental guidelines issued by the World Bank and agreed by the Board. A copy of the guidelines has been placed in the House of Commons Library.(ii) No human rights conditions are attached to World Bank loans.(iii) Different conditions are applied to different projects and programmes; adjustment operations in countries affected by crisis typically focus on mitigating the effects on the poorest groups in society and on promoting structural reforms.Conditions for both IMF and World Bank programmes are monitored carefully, and their fulfilment is a requirement for the release of subsequent loan tranches.