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Dept for International Development

Answer

Mr. Nicholas Winterton: To ask the Secretary of State for International Development what initiatives her Department is taking to relieve developing countries' debt during the United Kingdom presidency of the European Union; and if she will made a statement on how she is taking these forward. [43092] Clare Short: We work with the Treasury to seek to mobilise increasing international commitment to assist highly indebted poor countries. In addition we have contributed $10.5 million to help the African development bank meet its costs of providing debt relief under the heavily indebted poor countries debt initiative, and are encouraging other donors to do likewise. We have signalled our readiness to contribute $10 million to an international fund for Mozambique, an action which helped break the impasse among creditors earlier this year. I convened an informal meeting of donors to Rwanda in Brussels on 19 May, which considered among other matters ways of helping resolve that country's debt problems. At the donors' meeting in Stockholm on 2-3 June, Britain will announce a significant contribution to the multi-donor debt trust fund, which will provide debt relief to Rwanda over the next few years. We are providing nearly £500,000 in the form of technical assistance to help developing countries improve the management of their debt portfolios. We are continuing to urge other donors to follow the UK's example and write off their aid loans to the poorest developing countries.

Secondary information

Type

Written question

Reference

312 c457W; 43092

Session

1997-98

Subjects

Debts Developing countries Debts written off Debt rescheduling EU action Heavily indebted poor countries initiative Mozambique Rwanda