Maureen O'Sullivan (Dublin Central, Independent)
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Question 169: To ask the Minister for Finance if he will support the expanded debt cancellation, free from conditions for the southern countries that need it; his views on the co-responsibility of lenders in the creation of unjust debts here; if he will support the establishment of debt audits in the global south and the establishment of an international task force on tackling historical illegitimate debts; his further views on whether he recognises climate debt owed to countries of the global south and the need for grant based support, not loans to cope with climate change; the date for release of draft of new debt policy; and if he will consult with relevant organisations and have a round table discussion on this draft. [41539/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Ireland has played an important role internationally on the issue of alleviation of the debt burden of developing countries. The Government's policy on Debt Strategy, which was prepared jointly by the Department of Finance and the Department of Foreign Affairs, was published in 2002. It supports the cancellation of the debts of the world's poorest countries in accordance with internationally agreed criteria. This policy is currently being updated by the two Departments and this will be completed shortly. Input to this process has been received from civil society organisations.

Ireland is not a bilateral creditor and Ireland's bilateral assistance has always been exclusively in the form of grants rather than loans. As regards debt relief, the Irish Government has provided significant resources for initiatives to ease or cancel the debt burden on developing countries mainly through the Multilateral Debt Relief Initiative (MDRI) and the Heavily Indebted Poor Countries (HIPC) initiative. The MDRI came into effect on 1 July 2006 and provides for cancellation of eligible debt from the World Bank, the African Development Bank and the International Monetary Fund for many of the world's poorer and most indebted countries. Ireland's share of this initiative was €59m which it contributed in full in 2006. Ireland has also contributed over €20m to the HIPC initiative.