HC Deb 14 November 1957 vol 577 cc1124-5
28. Mr. J. Hynd

asked the Secretary of State for the Colonies what were the total sums paid out from the African Productivity Loan Fund and the Local Development Loan Fund, respectively, in Tanganyika during each of the last three years; and why only 26 loans were granted from these funds in the quarter April-June, 1957, as against 53 in the preceding quarter.

Mr. Profumo

Local Development Loan Fund payments were £13,453 in 1954; £10,061 in 1955; and £9,352 in 1956. African Productivity Loan Fund operations started in January, 1955, and payments were £35,215 in 1955 and £22,077 in 1956. The number of applications for loans has fallen off to some extent in recent months as a result of the increased use of normal commercial hire purchase, and partly also as a result of tightening up on credit issues in doubtful cases.

Mr. Hynd

Does the latter remark of the Under-Secretary imply that there has been difficulty in getting repayment of instalments? Has this drop in the last quarter any seasonal significance? Without asking him to go into every detail in question, will the hon. Gentleman consider whether he could give me some fuller statement than this in writing in order that we can study the matter more closely?

Mr. Profumo

Certainly, I will try to write to the hon. Gentleman and give him more details.