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Multilateral Development Banks
11 February 2020
Type
Written Ministerial Statement
Department
Department for International Development
At a Glance
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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