§ Mr. Woodall
asked the Minister of Overseas Development if she will report 378W progress on a further United Kingdom subscription to the capital of the International Finance Corporation.
§ Mr. Tomlinson
The resolution of the governors of the International Finance Corporation providing for an increase in the authorised capital stock from $110 million to $650 million, of which $480 million is allocated for subscription, became effective on 2nd November 1977. The United Kingdom governor voted in favour of the resolution. Our allocated subscription is $23.5 million—about £13 million—and a Statutory Instrument seeking approval for the contribution of this amount will be laid before Parliament shortly.