§ Mrs. Gillian Shephard
The development committee of the World bank and IMF, which met on 30 April, welcomed the establishment of the joint World bank, the United Nations Environment Programme, and the United Nations Development Programme global environment facility—GEF. The committee underlined the role that this facility could play as the mechanism to provide additional assistance to developing countries in the framework of negotiations on the global environment.
Responsibility for the United Kingdom's policy on the GEF lies with my right hon. Friend the Minister for Overseas Development. I understand that good progress was made at the GEF meeting on 1 and 2 May. Participants broadly endorsed a first tranche of 26 projects, with a total value of about $275 million, to be taken forward by the three implementing agencies.