§ Mr. MitchellTo ask the Chancellor of the Exchequer if he will list the projects in the United Kingdom which 659W have received loans from the (i) European Investment Bank and (ii) European Investment Fund, stating (a) the name of the project, (b) the sum loaned in pounds sterling, (c) the terms of re-payment and (d) significant other loans from (1) private and (2) public resources made for such projects. [76772]
§ Ms HewittThe European Investment Bank signed the following loans for projects in the UK in 1998:
660W
Project Amount (£) Individual loans Development of Elgin and Franklin gas and condensate fields in North Sea Texaco North Sea UK Co. 59.9 Power transmission and distribution grids Scottish Power plc 150 London Underground electricity systems Seeboard Powerlink 123 Channel Tunnel Rail Link Railtrack Group plc 200 Railway rolling stock Porterbrook Leasing Company Ltd. 110 Road construction and upgrading Birmingham City Council 81.5 Construction of A5/A55 trunk road UK Highways A55 Ltd. 56 Passenger facilities at Edinburgh, Heathrow and Gatwick airports 85 BAA plc Freight handling centre at Heathrow airport British Airways plc 20 Extension of mobile telephone network Mercury Personal Communications—One 2 One 200 Water supply and wastewater infrastructure Thames Water Utilities Ltd. 125 Water supply and wastewater infrastructure Northumbrian Water Ltd. 75 Construction and refurbishment of social housing and vocational training premises in urban regeneration areas 44 The Housing Finance Corporation Ltd. Establishment of five industrial gas production facilities 88.3 Air Products and Chemicals Inc. Production and distribution of industrial gases in Margam, Wales 19 BOC Ltd. Development of new vehicle and improvements to paint shops and engineering centre 50 Rover Group Ltd. Aircraft design and production 30 Short Brothers Ltd. Schools construction 37 Falkirk Council Global loans for financing small and medium-sized enterprises Barclays Bank 300 Midland Bank 100 Tokyo-Mitsubishi Bank 50 Lloyds Bank 50 ABN AMRO Causeway Mezzanine Partnership LP 15.7 Midland Bank Enterprise Funds 7.1 Total 2,076.5 I am unable to provide details of the terms of repayment on EIB loans or information on other contributory sources of finance as this is commercially sensitive.
The European Investment Fund does not provide loans. It provides loan guarantees and equity investments.
In 1997 (latest available information) the EIF signed guarantees to intermediaries supporting small and medium-sized enterprises in the UK as follows:
£ million Operation Party guaranteed Amount Mezzanine Loan Fund Syndicate, arranger NatWest 10 Barclays Bank Barclays Bank 34.8 In 1997 (latest available information) the EIF signed equity investments in funds supporting small and medium-sized enterprises in the UK as follows:
£ million Fund Amount Prelude Trust plc 2 MTI Three B. Ltd. Partnership 2 Alta Berkeley VCV 2.1 Kennet Ltd. Partnership 3 I am unable to provide details of the terms of EIF operations or information on other contributory sources of finance as this is commercially sensitive.