§ Sir R. Russellasked the Secretary of State for Foreign and Commonwealth Affairs if he will give details of the work of the multi-purpose special fund of the Asian Development Bank to which the United Kingdom will contribute £2,491,670 in 1973–74.
§ Mr. WoodThe figure of £2,491,670 to which my hon. Friend refers includes provision for Her Majesty's Government's contribution of £1,541,670 to the capital resources of the Asian Development Bank. The rest will cover the expected disbursements during 1973–74 from our commitment of £6 million to the bank's multipurpose special fund. The purpose of this special fund is to finance loans on concessional terms for development projects in the developing member countries of the bank. It is described as "multi-purpose" to distinguish it from the funds to which some member countries have subscribed specifically for agricultural projects and for technical assistance.