§ Mr. DarlingTo ask the Chancellor of the Exchequer (1) if he will request the governors of the European bank for reconstruction and development to make a statement on the bank's expenditure on administrative overheads; and if he will make a statement;
(2) if he will take action to ensure that the European bank for reconstruction and development reduces its expenditure on administrative overheads; and if he will make a statement.
§ Mr. Nelson[holding answer 20 April 1993]: My right hon. Friend the Chancellor made clear in his statement to the European bank for reconstruction and development's annual meeting, on 27 April, the European bank for reconstruction and development's duty to use the taxpayer's resources as cost effectively as possible. The Government have always sought to secure the best possible value for money from all the international financial institutions.
Her Majesty's Government welcome the measures agreed by the bank's board of directors and recently announced by President Attali to strengthen budgetary procedures at the European bank for reconstruction and development.
Many governors made statements at the European bank for reconstruction and development's annual meeting on 26 and 27 April on the need for the European bank for reconstruction and development to make the most cost-effective use of the resources entrusted to it.