Senate debates International Financial Institutions Legislation Amendment Bill 2010
Second Reading
Debate resumed from 17 November, on motion by Senator Feeney:
That this bill be now read a second time.
Mathias Cormann WA, Liberal Party, Shadow Assistant Treasurer
1:58 pm
The International Financial Institutions Legislation Amendment Bill 2010 authorises subscription to additional capital stock in the International Bank for Reconstruction and Development, part of the World Bank. It also incorporates sensible changes to articles of agreement to the International Finance Corporation and to the Multilateral Investment Guarantee Agency Convention. Consistent with longstanding bipartisan support for Australia’s commitment to international financial institutions, including the World Bank, the opposition supports this legislation.
Kim Carr Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research
I thank the senator for his contribution.
Question agreed to.
Bill read a second time.