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International Finance Facility

Volume 402: debated on Friday 4 April 2003

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To ask the Chancellor of the Exchequer whether additional capital raised through the International Finance Facility will count against the target of gross national product that the United Kingdom has pledged to spend on aid to developing countries; and how it will be accounted for. [105676]

The International Finance Facility will seek to provide the additional resources necessary to meet the Millennium Development Goals by 2015.The UK is committed to reaching the 0.7 per cent. of GNI target in the longer term; the IFF provides a realistic and feasible way to rapidly increase aid flows and make faster progress towards this target in the years up to 2015. The accounting treatment of the disbursement of funds raised through the IFF is subject to further technical discussions.