HC Deb 22 May 1978 vol 950 cc377-8W
Mr. Woodall

asked the Minister of Overseas Development if she will report 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.