§ Tony BaldryTo ask the Chancellor of the Exchequer what discussions he has had with US Treasury spokesmen on replacing World bank loans to the world's poorest countries with grants. [29629]
§ Mr. BoatengThe potential role of World bank grant finance is one of the issues being discussed in the context of the replenishment of the funds of the International Development Association (IDA, the concessional lending arm of the World bank), on which the Secretary of State for International Development leads. The Chancellor and Treasury officials have held discussions with the US Treasury and other countries to seek support for the UK position in these negotiations, which is that we should maintain and enhance the role of IDA as the largest source of concessional finance for low-income countries, and to encourage a substantial contribution by donors to the IDA replenishment.