Mr. Pattenasked the Lord Privy Seal if he will report on the position regarding maintenance of value payments due in respect of the United Kingdom contributions to the first three replenishments to the resources of the International Development Association.
§ Mr. HurdThe maintenance of value obligations accepted by the United Kingdom in the arrangements for the replenishments, under the authority of the Overseas Aid Act 1968 and statutory orders made under it, are being met by the deposit of non-negotiable non-interest bearing notes, additional to those originally deposited for our contributions. A deposit of a note is being made for £1,539,184.66. This sum is based on disbursements made by the association from our contributions during the period 1 January 1979 to 30 June 1979.