The International Development Association (Multilateral Debt Relief Initiative) (Amendment) Order 2023

Statutory Instruments

2023 No. 73

International Development

The International Development Association (Multilateral Debt Relief Initiative) (Amendment) Order 2023

Made

24th January 2023

Coming into force

25th January 2023

This Order is made in exercise of the powers conferred by section 11 of the International Development Act 2002(1) (“the Act”).

The International Development Association referred to in this Order comes within the definition, in section 11(2) of the Act, of a “multilateral development bank”.

In accordance with section 11(4) of the Act, this Order is made with the approval of the Treasury.

In accordance with section 11(5) of the Act, a draft of this Order has been laid before the House of Commons and approved by resolution of that House.

Accordingly, the Secretary of State makes the following Order:

Citation and commencement

1.  This Order may be cited as the International Development Association (Multilateral Debt Relief Initiative) (Amendment) Order 2023 and comes into force on the day after the day on which it is made.

Amendment to the 2006 Order

2.  In article 3 of the International Development Association (Multilateral Debt Relief Initiative) Order 2006 for “£2,716.49 million” substitute “£2,835.97 million”(2).

Andrew Mitchell

Minister of State

Foreign, Commonwealth and Development Office

18th January 2023

We approve,

Nigel Huddleston

Steve Double

Two of the Lords Commissioners of His Majesty’s Treasury

24th January 2023

EXPLANATORY NOTE

(This note is not part of the Order)

This Order amends the International Development Association (Multilateral Debt Relief Initiative) Order 2006 by increasing the amount that may be paid by the Secretary of State as additional contributions to the Association for debt relief from £2,716.49 million to £2,835.97 million. The adjusted amount is in accordance with arrangements made with the Association pursuant to Resolution No. 211 adopted by the Board of Governors of the Association on 21st April 2006.

An impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.

The provisions of Resolution No. 211 may be obtained by application to the Foreign, Commonwealth and Development Office, King Charles Street, London SW1A 2AH and are available online at https://documents1.worldbank.org/curated/en/768971470993173182/pdf/107820-BR-Box396272B-PUBLIC-IDA211-AdditionstoResources-FinancingtheMultilateralDebtRelifInitiative.pdf.

(1)

2002 c. 1. Section 11(3) and (4) was amended by S.I. 2017/1283.

(2)

S.I. 2006/2323. The figure of £2,716.49 million in article 3 of the 2006 Order was substituted by article 2 of the International Development Association (Multilateral Debt Relief Initiative) (Amendment) Order 2020 (S.I. 2020/1440).