Mr. Robert G. Hughes
To ask the Secretary of State for Foreign and Commonwealth Affairs if he will make a statement on the outcome of the negotiations on the ninth replenishment of the International Development Association; and what will be the United Kingdom contribution.
§ Mrs. Chalker
Negotiations on the ninth replenishment of the International Development Association (IDA 9) were successfully concluded in Washington on 14 December. Donor countries agreed on a replenishment of 11.68 billion special drawing rights (about $15 billion). This maintains in real terms the value of IDA 8. With repayments from earlier loans, there will be a real increase in the total available for commitment to the poorest countries over the three years starting on 1 July 1990, which will be about $17 billion. The United Kingdom has agreed, subject to Parliamentary approval, to contribute 6.7 per cent, of IDA 9, or nearly £619 million at the agreed exchange rate.