Explanatory note

The Overseas Aid Act 1968, section 1(5), provides that if the Government of the United Kingdom becomes bound by arrangements for the making of additional payments to the International Development Association, the Minister of Overseas Development may, with the approval of the Treasury provide by order for the payment out of moneys provided by Parliament of any sums required by him for any of the purposes specified in that sub-section.

This Order provides for the payment to the Association of a sum of £705,944.83 as an additional subscription carrying voting rights and of a sum of £474,065,631.70 as an additional contribution not carrying voting rights. The Order also provides for the redemption of non-interest-bearing and non-negotiable notes issued by the Minister of Overseas Development in payment of that additional subscription and contribution. The Order further provides that certain sums which may be received by the Government of the United Kingdom from the Association shall be paid into the Consolidated Fund.