§ Mr. Hooleyasked the Minister for Overseas Development whether any commercial advantages will accrue to the United Kingdom as a result of its inten—ded membership of the Inter—American Development Bank.
§ Mr. PrenticeWhen the United Kingdom formally joins this Bank as a non regional member, probably in May or June 1976, British firms will be able to tender for all Bank projects, both consultancies and the supply of goods and equipment. The very large financial resources of the Bank make this a major opportunity for the expansion of British trade in goods and services in the developing countries which are members of the Bank. The Department of Trade and the Ministry of Overseas Development will ensure that these opportunities are made known to interested British firms.
§ Mr. Hooleyasked the Minister for Overseas Development if he is satisfied that Her Majesty's Government's intention to join the Inter-American Development Bank is an effective way of aiding the developing countries in Central and South America.
§ Mr. PrenticeYes. Since it was founded in 1959, this Bank has had an admirable record in assisting the economic growth of developing countries. It is now increasingly turning to projects which have a direct effect on improving the conditions of the many very poor780W people in developing countries which are members of the Bank, and its experience and Knowledge make it a most effective Channel for British aid in this area.