HC Deb 13 November 1958 vol 595 c74W
95. Mr. Hector Hughes

asked the Under-Secretary of State for Commonwealth Relations if he will make a statement on the official proposal to set up a Commonwealth Development Bank.

Mr. Alport

The Commonwealth Trade and Economic Conference at Montreal considered this suggestion. Its conclusions are recorded in paragraphs 16 and 69 of Command Paper 539, from which it will be seen that the Conference agreed that, after decisions have been taken in regard to any expansion of the resources of the International Bank and the International Monetary Fund, there should be further joint studies to determine whether there is a rôle for a new Commonwealth institution for financing economic development.

Forward to