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International Finance Facility

Volume 404: debated on Tuesday 29 April 2003

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To ask the Chancellor of the Exchequer what recent discussions officials from his Department have had with representatives of the business community on the issue of an International Finance Facility. [110245]

The UK is working with its international partners, civil society and the business community to develop the International Finance Facility and to build support for it. The Government's proposal will provide development financing to create capacity for growth and business in some of the worlds' poorest countries, and business has a key role to play by investing in these countries. Accordingly, the Chancellor and the Secretary of State for International Development have written to industry leaders seeking to generate business support.The Treasury has also been working in partnership with private sector experts on developing the technical details of the IFF proposal.