§ 77. Mr. MORTasked the Financial Secretary to the Treasury what was the amount loaned to Belgium by the Government in 1921 under the British reconstruction credit scheme; what was the rate of interest charged to Belgium; and how much of the loan and interest has been repaid?
§ Mr. PETHICK-LAWRENCEThe hon. Member presumably refers to the reconstruction credit of £9,000,000 granted to Belgium in 1919 in order to assist in the placing of orders for products and manufactures of the United Kingdom required for the restoration of Belgium. The rate of interest charged was 5 per cent., which has from the outset been paid in cash. No part of the capital has yet been repaid, but it is due to be repaid in annual instalments from 1931 to 1955, interest at 5 per cent. continuing to be paid on the amount outstanding.