2022 No. 1377
The International Development Association (Twentieth Replenishment) Order 2022
Made
Coming into force
This Order is made in exercise of the powers conferred by section 11 of the International Development Act 20021 (“the Act”).
Section 11 of the Act provides that where the Government of the United Kingdom becomes bound to make a relevant payment to a multilateral development bank the Secretary of State may make the relevant payment and other associated payments specified in section 11(3).
“Relevant payment” in relation to such a bank includes a further payment to the bank required to be made by its members under any arrangement beyond the initial subscription or other initial contribution to the capital stock of the bank.
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 commencement1
This Order may be cited as the International Development Association (Twentieth Replenishment) Order 2022 and comes into force on the day after the day on which it is made.
Interpretation2
In this Order—
“the Association” means the International Development Association established by an agreement dated 29th January 1960 and accepted on behalf of the Government on 14th September 19602;
“the Government” means the Government of the United Kingdom;
“the Resolution” means Resolution No. 248 entitled ‘Additions to Resources: Twentieth Replenishment’ adopted by the Board of Governors of the Association on 31st March 20223.
Relevant Payments3
The Secretary of State may, on behalf of the Government—
a
make payment of a further contribution to the Association not exceeding £1,414,000,000 in accordance with arrangements made between the Government and the Association in accordance with the Resolution; and
b
make payment of sums required to redeem any non-interest-bearing and non-negotiable notes or other obligations which may be issued or created by the Secretary of State and accepted by the Association pursuant to the arrangements mentioned in paragraph (a),
in accordance with section 11 of the International Development Act 2002.
We approve,
(This note is not part of the Order)