Oireachtas Joint and Select Committees

Tuesday, 4 December 2018

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

African Development (Bank and Fund) Bill 2018: Committee Stage

2:00 pm

Photo of Michael D'ArcyMichael D'Arcy (Wexford, Fine Gael)
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A similar question was raised regarding the Asian Infrastructure Investment Bank, AIIB, Bill, when we passed it this time last year. On joining, as is the case with all development banks, our engagement with the African Development Bank Fund will be guided and informed. Ireland's overall approach to development, including in the areas emphasised by our international development policy, One World, One Future, provides focus for our engagement in all multilateral forums and processes.

As members of the committee may be aware, this policy is under review to ensure that our development ambition takes note of development challenges and initiatives such as the sustainable development goals. The new policy will have been shaped by a significant consultative process, ensuring that its vision of this world is both relevant to modern challenges and anchored in our foreign policy values working towards a world that is more equal, peaceful and sustainable. I believe that embedding and prescribing the nature of Ireland's engagement with the bank and the fund within legislation, as proposed by the amendment, would restrict and limit Ireland's capacity for similar development policy evolution and coherence.

Regarding the suggestion in the amendment, which has been ruled out of order, on reporting arrangements to the Oireachtas, I am sure the Minister will give full consideration to the views in the amendment, and while not accepting it, they will be considered.