§ Mr. Hurd
The United Kingdom will contribute £50 million to the next phase of the enhanced structural adjustment facility of the International Monetary Fund. ESAF supports economic reform programmes in low-income countries, particularly in sub-Saharan Africa. This brings the United Kingdom contribution to about 11 per cent. of the total fund.
Our new contribution will be made in 1994–95 from resources released by an underspending of EC aid. It will not add to planned levels of public expenditure. ESAF adds to the effectiveness of our bilateral aid programme and complements our Trinidad terms initiative to relieve the debt burdens of the poorest countries pursuing economic reform. Our new contribution underlines Britain's position at the heart of the international effort to promote sustainable recovery and growth in the developing world.