Treasury written question – answered at on 27 March 2008.
To ask the Chancellor of the Exchequer what assessment he has made of the effect of turbulence in international credit markets on the delivery of overseas development assistance pledges; and if he will make a statement.
The Government are committed to reducing international poverty. We announced in the 2007 comprehensive spending review that DFID's budget would rise from £5.4 billion to £7.9 billion a year in 2010-11. This will enable total UK Overseas Development Assistance (ODA) to reach over £9.1 billion a year by 2010-11. We continue to urge all countries similarly to live up to their commitments, including the promises made at the 2005 Gleneagles summit, and to achieve the millennium development goals. The successful recent replenishments of the World Bank's International Development Association and of the African Development Fund in 2007, to which the UK pledged £2.134 billion and £417 million respectively over the next three years, will ensure that low-income developing countries will continue to benefit from the concessional finance and expertise of these institutions.
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