§ Mr. Gordon Brown
To ask the Chancellor of the Exchequer if he will itemise British expenditure on the European bank for reconstruction and development.
§ Mr. Lennox-Boyd
[holding answer 19 April 1993]: I have been asked to reply.
By the end of March 1993, United Kingdom expenditure on the European bank for reconstruction and development since its inauguration in April 1991 was about £90 million. A breakdown of this figure is shown in the table. As a shareholder of the bank, the United Kingdom will contribute £255 million to its capital: £53.4 million has already been contributed; the remainder will be paid in the period to the end of 1995–96 by a combination of cash and promissory notes.
The European Community has a 6 per cent. shareholding in the bank and contributes 6 per cent. of the capital. In addition, the EBRD manages technical assistance funds for the EC. The United Kingdom share of this Community expenditure is 16 per cent.248W
£ million 1990–91 1991–92 1992–93 Total Capital Subscription — 21.6 31.8 53.4 Headquarters grant 0.7 12.3 21.8 34.8 Annual Meetings — 0.7 0.02 0.72 Transitional Support 1.9 — — 1.9 90.82 ecu million 1991 1992 Total PHARE/TACIS (technical assistance) 40 40