TNAG-2461-FCO40-3582-Relations-between-Hong-Kong-and-Commonwealth-countries-1992 — Page 26

Brief No (1)

Objectives

HER MAJESTY'S TREASURY

17/13RD AVONUAL MKITINGS 1991

COMSONYEALTH FINANCI VIISTERS' KIITIC 1991

AID FLOYS

C

1.

To focus discussion on domestic policies for development.

2.

This includes climate for effective use of invard flows.

3.

To encourage the better use of aid by developing countries.

Line to Take

General

C

Prime responsibility for development lies with developing

should adopt sound policies to generate and nake maximum

resources, and to ensure effective use of external resources.

5.

countries

vho

use of domestic

Trade and direct investment more important for sustainable development

than aid for many countries. Vital to rebuild right investment climate in

developing countries.. Yelcome World Bank's attentions to financial reform

including overseas Lovestment codes, appropriate tax structures and capital

markets.

6.

Recognise the importance of official, concessionary aid flows, especially required for

for poorest. But important to distinguish

distinguish between

resourceS

sustainable and sustained economic and social progress and resources

sustain inefficient policies and increased aid dependence.

which only

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