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UK and the World Bank 2006-07

Volume 467: debated on Thursday 22 November 2007

I have placed in the Libraries of both Houses a copy of a DFID report, “The UK and the World Bank 2006-07”.

This report summarises the UK’s work with the World Bank from October 2005 (the end of the period covered by the last report) to the end of the bank’s financial year 2007 (June 2007). The decision to extend the period covered to the end of June 2007 brings the reporting period in line with the World Bank’s financial year and also covers the period running up to the appointment of a new World Bank president.

The report describes the main policy topics which the bank was involved in during this period and how it spent its money in supporting developing countries’ efforts to reduce poverty. The report provides a regional breakdown of the bank’s work and also describes the bank's efforts to improve the way it operates.

During the period covered, the UK worked closely with the bank to develop the Clean Energy Investment Framework, the Investment Climate Facility and a new governance and anticorruption strategy; and helped secure improvements in the bank’s implementation of the good practice principles on conditionality.

The next report will issue in approximately 12 months time and will cover the World Bank financial year 2008 (July 2007-June 2008).