HC Deb 20 June 1988 vol 135 cc371-2W
83. Mr. David Martin

To ask the Secretary of State for Foreign and Commonwealth Affairs what support Her Majesty's Government are giving to programmes of structural adjustment in Africa.

Mr. Chris Patten

In 1987–88 Britain provided an estimated total of over £90 million of quick-spending balance of payments finance in support of structural adjustment programmes in African countries. We have pledged at least £250 million of similar assistance over the next three years in association with the World Bank's special programme of assistance to low-income, debt-distressed countries in sub-Saharan Africa that are following appropriate programmes of economic reform. We are also giving very substantial support to the IMF's enhanced structural adjustment facility. Our contribution to the interest subsidy account will be greater than that of any other country, and will be sufficient to subsidise the interest on lending up to SDR 1 billion—about £750 million.