§ Mr. Nicholas BennettTo ask the Secretary of State for Foreign and Commonwealth Affairs what was the outcome of the negotiations to replenish the International Fund for Agricultural Development; and what will be the United Kingdom's contribution.
§ Mrs. ChalkerI am glad to say that for its third replenishment IFAD will receive $566.3 million to cover its operations up to 30 June 1992. This compares with only $487 million pledged for the full three years' second replenishment. There will be two main components, "core funding" and "supplementary funding". The first consists of OPEC (category 2) pledges totalling $124.4 million and matching pledges by OECD donors (category 1) in the ratio 60:40 totalling $186.8 million. The second is made up of pledges from non-oil exporting developing countries (category 3) totalling $63.8 million and OECD matching contributions in the ratio 3:1 totalling $191.5 million. This second element is seen by both category 3 and category 1 as wholly exceptional and confined to this replenishment.
Britain's contribution to the replenishment will be £11.305 million ($19.8 million), comprising core funding of £5.098 million ($8.9 million), and a supplementary matching contribution of £6.217 million ($10.9 million). Parliamentary approval for this contribution will be sought in due course.