§ Mr. Bill MichieTo ask the Secretary of State for International Development what progress has been made by the Government in the Council of Donor Agencies at the Microcredit Summit, in drawing up an institutional plan for reaching the objectives of the Summit. [27298]
§ Mr. FoulkesMy Department has been a member of the Council of Donor Agencies of the Microcredit Summit since June 1997. Our Institutional Action Plan for656W reaching the objectives of the Summit has been prepared and will be sent to the Summit organisers before the end of February.
A paper has also been prepared on the Department's policy on microfinance. This will also be finalised before the end of February and will be available for general information.
The Department for International Development's support for microfinance, which continues to grow, takes four basic forms: strengthening the capacity of microfinance institutions; contributing to operational costs as institutions grow towards financial sustainability; investing in the loan capital fund of microfinance institutions; and financing research on best practice in microfinance, especially the impact on the poor.