§ Lord Lyellasked Her Majesty's Government:
What was the final outcome of the negotiations to replenish the International Fund for Agricultural Development, and what will be the UK contribution.
§ Baroness Chalker of WallaseyI am pleased to report that agreement was reached last week on the Fourth Replenishment of the International Fund for Agricultural Development (IFAD). With pledges of around $360 million from the developed countries; some $100 million from the oil producers and developing countries together, the release by the developed countries of some $16 million from the Third Replenishment; and anticipated reflows and investment income, IFAD should be able to maintain a very satisfactory level of annual lending commitments over the next three years.
The UK's contribution to the Fourth Replenishment will be $22.01 million (£13.6 million), for which parliamentary approval will be sought in due course. In addition, we will release our share—rather less than $1 million—of the funds previously blocked under the Third Replenishment: this is not a new financial commitment, promissory notes for the amount having already been lodged.
I am pleased to say that the UK, as Convenor of the OECD Group, the largest of the donor groups, played an influential role in securing agreement on the Fourth Replenishment.