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International Development Association

Volume 929: debated on Monday 28 March 1977

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asked the Minister of Overseas Development if she will report on the position regarding maintenance of value payments due in respect of the United Kingdom contributions to the first three replenishments of the resources of the International Development Association.

The maintenance of value obligations accepted by the United Kingdom in the arrangements for the replenishments, under the authority of the Overseas Aid Act 1968 and statutory orders made under it, are being met by the deposit of non-negotiable non-interest bearing notes, additional to those originally deposited for our contributions. Arrangements are being made for the deposit of a note for £7,757,816·34. This sum is based on disbursements from our contributions made by the association during the period 1st July to 31st December 1976.