HL Deb 16 July 1986 vol 478 cc1005-6WA
Baroness Vickers

asked Her Majesty's Government:

What progress has been made by the Falkland Islands Development Corporation since its establishment and whether they will make a statement.

Baroness Young

The Falkland Islands Development Corporation (FIDC) has now been fully operational for two years, following the inaugural meeting in July 1984. Its second annual report, to be published on 17th July 1986, reveals that it has been involved in a wide range of activities funded from its £4 million budget, provided by the Overseas Development Administration (ODA), ranging from small grants for local businesses to substantial commitments for projects such as a market garden, a wool mill, a dairy, tourism facilities and a shopping complex at the new Mount Pleasant Airport.

In a short time the FIDC has established itself as a major force for development in the Falklands. My right honourable friend the Minister for Overseas Development (Mr. Raison) will be considering over the next few months what further contributions it would be appropriate to make towards the FIDC's budget, on the basis of the report expected shortly of a joint review of the FIDC's operations by the Falkland Islands Government and ODA representatives.