The International Development Association (Multilateral Debt Relief Initiative) (Amendment) Order 2017

Statutory Instruments

2017 No. 1195

International Development

The International Development Association (Multilateral Debt Relief Initiative) (Amendment) Order 2017

Made

28th November 2017

Coming into force in accordance with Article 1

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 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 for International Development makes the following Order:

Citation and commencement

1.  This Order may be cited as the International Development Association (Multilateral Debt Relief Initiative) (Amendment) Order 2017 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 “£1,691.71 million” substitute “£2,154.17 million”(2).

Penny Mordaunt

One of Her Majesty’s Principal Secretaries of State

28th November 2017

We approve,

Mark Spencer

Andrew Griffiths

Two of the Lords Commissioners of Her Majesty’s Treasury

28th November 2017

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 £1,691.71 million to £2,154.17 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 impact on the private or voluntary sectors is foreseen.

The provisions of the Resolution mentioned in this Order may be obtained by application to the Department for International Development, 22 Whitehall, London SW1A 2EG.

(1)

2002 c.1.

(2)

S.I. 2006/2323. The figure of £1,691.71 million in article 3 of the 2006 Order was substituted by article 2 of the International Development Association (Multilateral Debt Relief Initiative) (Amendment) Order 2014 (S.I.2014/3056).