§ Mr. Hooleyasked the Minister for Overseas Development if he will make a statement about the fund for emergency programme assistance and for common services in the Leeward and Windward Islands.
§ Mr. PrenticeA special fund for emergency programme assistance and for common services for the Leeward and Windward Islands was proposed by Mr. William Demas, President of the Caribbean Development Bank—CDB—in June20W 1975, and, following discussions with the CARICOM Governments and with Her Majesty's Government and other potential donors, the CDB agreed in February 1976 to administer the fund. 1976 will be treated as an interim year, and arrangements for a longer term fund will be considered as soon as relevant fiscal and economic data being prepared by the CDB are available. I welcome this initiative, and for 1976 I have agreed to contribute £1,041,667, the equivalent of EC$5 million at the time of commitment, subject to agreement by the Goverments of Barbados, Guyana, Jamaica, and Trinidad and Tobago jointly to contribute an equal amount. This they have now agreed to do. Her Majesty's Government's contribution will be madepari passu with the joint contribution from these Governments. Parliamentary approval to this new service will be sought in a Supplementary Estimate, for the Overseas Aid Vote. Pending such approval, any necessary contribution from Her Majesty's Government will be met by repayable advances from the Contingencies Fund. I do not intend to continue to provide budgetary aid through bilateral channels to countries receiving it through the fund.