§ 20. Mr. Boyd-Carpenterasked the Secretary of State for Foreign Affairs why he approved the decision of the Bank of England to participate in the loan to Egypt.
§ Mr. Goronwy RobertsNow that we have normal relations with the United Arab Republic there is no reason why Her Majesty's Government should not participate in a facility of this kind, in which other Western financial institutions were taking part. An improvement in the United Arab Republic's relationship with the International Monetary Fund should place it in a better position to make satisfactory arrangements for settling its financial and commercial obligations to the United Kingdom. In any case, the facility has now been repaid in full following drawings by the United Arab Republic from the Fund.
§ Mr. Boyd-CarpenterDoes the Minister think it reasonable to grant facilities of this kind to a Government who are imprisoning British ships and indulging in warlike preparations against a neighbour at a time when Her Majesty's Government are compelled to restrict investment in, for example, Australia and New Zealand?
§ Mr. RobertsFollowing the resumption of normal relations with the U.A.R. it was perfectly sensible for us to see whether we could assist in a matter of this kind, in co-operation with other Western countries. As to whether the present dispute and difficulties in the 20 Middle East would be helped by our not co-operating as far as we could with the countries of the Middle East, including the U.A.R., I beg to differ from the right hon. Gentleman.
§ Viscount LambtonWhen was the last request made to the Egyptian Government to free the ships and crews now being impudently held in the canal?
§ Mr. RobertsSince the resumption of relations we have been in constant touch with the U.A.R. about this matter. A promising attempt was made in January—[Interruption.]—an encouraging attempt—[Interruption.]—an attempt which showed signs of succeeding was made in January, but it was overtaken by events. Subsequently we have made further representations to the U.A.R. and I very much hope that there will shortly be a new proposal by the U.A.R. to the United Nations for a further attempt to clear the canal.
§ Sir Knox CunninghamWhy should we give loans to a Government who detain our ships?
§ Mr. RobertsThe question of the detention of ships is not as simple as all that. Their release depends on there being a general settlement between the two sides. We are making every effort, particularly in support of the Jarring Mission, to see that both Israel and the U.A.R., and the Arab world generally, come to an agreement which, among other things, will secure the freeing of these ships.