§ Sir John StanleyTo ask the Secretary of State for Foreign and Commonwealth Affairs how much in £ sterling terms Britain will contribute to the eighth European development fund; over which financial years those contributions will be made; and what will be Britain's percentage share of the total contributions made to the European development fund. [32612]
§ Mr. BaldryOur commitment to the eighth European development fund will be for 1.63 becu, equivalent to approximately £1.36 billion at current exchange rates. Funds will be drawn down over the period 1999–2000 to 2003–4. We shall be the third largest contributor to EDF VIII, providing 12.7 per cent. of member state contributions.
§ Sir John StanleyTo ask the Secretary of State for Foreign and Commonwealth Affairs how much in £ sterling terms Britain will contribute to the seventh112W levels since the introduction of the Zimbabwe structural adjustment programme; and if he will make a statement on the United Kingdom's policy towards the next structural adjustment programme. [31846]
§ Mr. BaldryWe shall continue to support Zimbabwe's economic reform programme as an essential means to economic recovery, providing good progress is maintained. In concert with the World bank and International Monetary Fund we recognise the importance of helping to protect vulnerable groups during this transition; we therefore give priority to protecting the social sectors in our aid programme.
The latest available figures from World Bank/IMF sources are as follows:
European development fund; over which financial years those contributions will be made; and what Britain's percentage share will be of the total contributions made to the European development fund. [32611]
§ Mr. BaldryOur commitment to the seventh European development fund is for 1.79 becu. The cost in sterling terms will depend on the timing of draw down. At the present exchange rate it is equivalent to approximately £1.5 billion. Funds will be drawn down over the period 1994–95 to 1998–99. We are the third largest contributor to EDF VII, providing 16.37 per cent. of member state contributions.