African Development Bank (Hansard, 19 May 1994)

§ Mr. Worthington
To ask the Secretary of State for Foreign and Commonwealth Affairs what shareholding he has in the African development bank; how Britain's influence is exercised in the policymaking of the bank; and what are the size of other countries' financial contributions to the bank.

§ Mr. Lennox-Boyd
As at 31 December 1993 Britain had a 1.478 per cent. shareholding in the African development bank. Our pledge to the sixth replenishment of the African development fund, which covered commitments for the period 1991–93, was 4 per cent. of the total.
We exercise influence over bank policies through our director in the bank, shared with Germany, Holland and Portugal; through bilateral contacts; and in negotiations to replenish the resources of the bank group.
Details of shareholdings of other members of the bank and of contributions to the fund are contained in the bank's annual report, copies of which are available in the Libraries of both Houses.

§ Mr. Worthington
To ask the Secretary of State for Foreign and Commonwealth Affairs what attitude he has taken to the replenishment of the African development bank's funding.

§ Mr. Lennox-Boyd
We have taken an active part in negotiations for the seventh replenishment of the African development fund, which lends on concessional terms to the poorest countries in the region. Progress was made in Nairobi, in the margins of the annual meeting of the African development bank, but a number of issues remain to be agreed relating to the way the bank's resources as a whole should be allocated. We hope the negotiations can be concluded soon.

§ Mr. Worthington
To ask the Secretary of State for Foreign and Commonwealth Affairs what assessment he has made of the Knox report on the operations of the African development bank.

§ Mr. Lennox-Boyd
We consider the report of the task force on project Quality headed by Mr. David Knox, a former vice-president of the World bank, to be a sound analysis of the operational and organisational weaknesses of the African development bank.
We have urged management to prepare an action plan and to implement the recommendations in the report as a matter of urgency.