§ Mr. FoulkesTo ask the Secretary of State for Foreign and Commonwealth Affairs what is the cost in each of the last five years of converting Overseas Development Administration loans to developing countries into grants; and whether conversion of Overseas Development Administration loans into grants is registered as expenditure in the year in which conversion is made. [25376]
§ Mr. BaldryThe cost in each of the last five years of converting Overseas Development Administration loans to developing countries into grants is shown on the attached table; conversion of Overseas Development Administration loans into grants is not registered in the year in which conversion is made. The repayment amounts are cancelled over the period of the original loan repayment dates.
Debt cancellation £ Thousands Principal Interest Total 1990–91 21,424 637 22,061 1991–92 20,925 489 21,414 1992–93 19,717 382 20,099 1993–94 21,995 1,698 23,694 1994–95 25,041 3,104 28,144