§ Mrs. CaltonTo ask the Chancellor of the Exchequer how much of the extra funding for the Heavily Indebted Poor Countries fund for top-up debt relief which the G8 committed at their meeting in Canada in 2002 has been provided. [158575]
§ John HealeyAt the G8 summit in Kananaskis in 2002, donors pledged additional resources for the HIPC Trust Fund. The Trust Fund is administered by the World Bank and provides financial support to regional and sub-regional creditors—for example, the African Development Bank—enabling them to provide their share of debt relief commitments under the HIPC Initiative without endangering their lending capacity.
The pledges from 2002 currently amount to US $928 million. Total paid-in contributions up to January 2004 from old and new pledges to the HIPC Trust Fund amount to around $2.8 billion, of which $306 million is based on the pledges made in Kananaskis in 2002.