§ Mr. LoveTo ask the Secretary of State for International Development how much the Government will contribute to the 13th Replenishment of the International Development Association. [73105]
§ Clare ShortI have decided that the UK will contribute £900 million to the three-year, 13th Replenishment of IDA (IDA-13)—the concessional lending arm of the World bank. This represents a 10.1 per cent. share of IDA-13 donor resources, up from £511 million (7.3 per cent. share) at the last replenishment. The increase reflects the high importance the British Government attaches to IDA, which is one of the most effective channels for reducing poverty in the poorest countries.
The UK will also contribute up to an additional £100 million during the course of IDA-13 towards the cost of compensating IDA for the future loss in loan re-flows resulting from the provision of 18–21 per cent. of IDA-13 resources on grant terms. This contribution is conditional on donors agreeing an appropriate system for funding the enlarged grant provision at the IDA-13 Mid-Term Review in 2003.