News: India to contribute more to Commonwealth fund

(RTR 13/09/2006) New Delhi - India will increase its contribution to Commonwealth Fund for Technical Cooperation by 6.25 percent to 850,000 pounds ($1.59 million) in 2006/07, Finance Minister Palaniappan Chidambaram said.

The fund is used for developmental works in Commonwealth member nations.

"We would continue to support the initiatives... to promote the economic and social development of all the Commonwealth members," Chidambaram said in a prepared speech at a Commonwealth finance ministers meeting on Wednesday in Colombo, Sri Lanka.

A copy of the speech was released in New Delhi.