§ Mr. BercowTo ask the Secretary of State for International Development what input his Department has made into the(a) design and (b) implementation of the initiative by the International Monetary Fund and the World Bank to help developing countries to overcome problems in adjusting to a more liberal trading environment. [149102]
§ Hilary BennOne of the more positive outcomes of the WTO ministerial in Cancun was the joint announcement by the World Bank and the IMF of a new trade-related initiative. Its overall aim is to assist poor countries with the adjustment costs of transition to trade liberalisation and help them capitalise on the potential benefits. DFID, in collaboration with others, has for some time been actively encouraging the World Bank and IMF to address more systematically the1306W adjustment costs of trade liberalisation and the need for trade-related technical assistance. The collapse of negotiations in Cancun allows more time for the initiative to be developed and to encourage the Bank and Fund to work together more closely in designing mechanisms.