Richard Bruton (Dublin North Central, Fine Gael)
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Question 194: To ask the Tánaiste and Minister for Finance his views on the call from Debt and Development Coalition Ireland and Trócaire that Ireland should not pay money beyond the basic membership subscription into the IDA 15 replenishment round unless World Bank economic conditionality is ended and to instead re-channel its aid through aid channels without economic conditions; and if he will make a statement on the matter. [23823/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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I do not support this call. The International Development Association (IDA) provides financial assistance to the poorest countries by means of both loans at zero interest with a 10-year grace period and maturities of 35 to 40 years and, more recently, grants. These grants and loans are provided by donors, such as Ireland, financed by the Irish taxpayer and by return reflows. Consequently conditions must be imposed to ensure proper use of IDA resources by recipient countries.

There is no basic membership subscription, as such, in any IDA replenishment round. The World Bank would hope that each donor would subscribe as much money as possible to meet the expanding needs of IDA, not least to meet the Millennium Development Goals in Africa, where IDA resources are particularly focused. Ireland is a strong supporter of IDA as a vehicle for channelling assistance to the poorest countries.

Richard Bruton (Dublin North Central, Fine Gael)
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Question 195: To ask the Tánaiste and Minister for Finance the Government position that will be presented at the World Bank IMF meetings from 20 to 22 October 2007 and at the meeting of International Development Association deputies that will be held immediately after the World Bank IMF meetings on 23 October 2007 on the replenishment of the IDA fund; and if he will make a statement on the matter. [23824/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The Board of Governors of the International Monetary Fund (Fund) and the Boards of Governors of the World Bank Group (Bank) normally meet once a year to discuss the work of their respective institutions. I will attend the meeting to be held this year in Washington and will speak on behalf of Ireland.

In addition there are meetings of the International Monetary and Financial Committee (IMFC), the IMF's policy-guiding body, and the Development Committee, a joint IMF-World Bank forum. Ireland is not a member of either of these bodies, but is represented indirectly. A considerable amount of the preparatory work emerges from the IMFC and Development Committee meetings in the form of conclusions and indeed from the entirely separate gathering of the G7 Finance Ministers to be held in Washington on 19 October.

In my speech at the Annual Meeting, I intend to recognise the very important work being done by both organisations and especially by the World Bank in its mission of global poverty reduction and the improvement of living standards in developing countries around the world. I will take the opportunity at the meeting next week to address a number of challenges facing both organisations including governance and surveillance. I will also emphasise our commitment to enhancing the position of emerging market economies while at the same time accommodating the quota position of the more developed dynamic countries which are significantly under represented, including Ireland.

A specially arranged meeting of persons dealing with the International Development Association will be held on 23 October 2007. This will be addressed by Mr R Zoellick, the new President of the World Bank. This meeting will be attended by the appropriate officials from my Department.

Richard Bruton (Dublin North Central, Fine Gael)
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Question 196: To ask the Tánaiste and Minister for Finance his views of the attaching of economic conditions to World Bank loans and grants; and if he will make a statement on the matter. [23825/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The World Bank group comprises the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID). Together the IBRD and IDA provide low-interest loans, interest-free credit, and grants to developing countries. The IFC promotes private sector investment by supporting high-risk sectors and countries, while the MIGA provides political risk insurance (guarantees) to investors in, and lenders to, developing countries. The ICSID settles investment disputes between foreign investors and their host countries.

The IDA is the "soft" loan arm of the World Bank. It provides highly concessional financial resources to low-income countries to help them reduce poverty and achieve faster, more environmentally sustainable, broad based growth. It is the single largest source of concessional financial assistance to the world's poorest countries. The IDA provides both loans at zero interest with a 10-year grace period and maturities of 35 to 40 years and more recently grants. These loans and grants are provided by donors, such as Ireland, and are financed by the Irish and other taxpayers, and by the return reflows from past loans. Conditions in relation to the provision of such loans and grants are always necessary to ensure that borrowers and grant recipients carry out the projects as intended and repay the funds loaned. This allows donors to be sure that the intended purposes of IDA actions are met and that, where relevant, the resources return to IDA for future reuse to assist poor countries.

Richard Bruton (Dublin North Central, Fine Gael)
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Question 197: To ask the Tánaiste and Minister for Finance the time-frame and approval process for the decision making on Ireland's contribution to the IDA 15 replenishment specifically; and if he will make a statement on the matter. [23826/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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Discussions on a replenishment round for the International Development Association (IDA) have commenced. The donors for a 15th replenishment, which number about forty countries, will hold a number of meetings during the course of this year, and possibly next year also, to determine the scale and scope of the overall replenishment needed. Ireland will consider its position in that context.