Commons Sense

House of Commons · Written Ministerial Statement

Multilateral Development Banks

11 February 2020 · Department for International Development

Proposed by Alok Sharma Con Reading West

Foreign Affairs

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • UK Government pledges 3.062 billion to World Bank's IDA19
  • Government also commits 633.09 million including a performance incentive to ADF15
  • UK pays 1.576 billion for new shares in AfDB's General Capital Increase GCI7

Issue summary

The statement discusses the UK's support for multilateral development banks, specifically the World Bank's International Development Association (IDA) and the African Development Fund (ADF), and their role in supporting sustainable development goals.

Action requested

The Government has pledged £3.062 billion to IDA19 and £633.09 million including a performance incentive of £102 million, to ADF15. Additionally, the UK is paying £1.576 billion for new shares in the AfDB's General Capital Increase (GCI7). Statutory Orders will be laid before Parliament for consent.

Key facts

  • IDA19 replenishment supports $82 billion of development financing from July 2020 to June 2023.
  • The UK pledged £3.062 billion to IDA19, an inflation-adjusting increase on previous support.
  • ADF15 will have a total resource envelope equivalent to almost £6 billion for the period January 2020 to December 2022.
  • The UK has pledged £633.09 million to ADF15, including a performance incentive of £102 million.
  • AfDB's GCI7 will enable an increase in overall annual lending from approximately £5.5 billion currently to over £13 billion by 2030.
  • The UK cost for new shares allocated as part of the AfDB capital increase is £1,576,230,660.
  • The Government will lay Statutory Orders and a Departmental Minute related to these contributions.
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