HC Deb 11 July 1923 vol 166 cc1386-7W

asked the Under-Secretary of State for the Colonies if he can give particulars as to the loan of £5,000,000 under the Kenya Specific Loan Ordinance; how much of it has been expended; how much ear-marked for future expenditure up to date; and to what purpose that expenditure has been put and is intended to be put?


The allocation of the £5,000,000 loan, as revised under the power given in Section 3 of the Ordinance, stands as follows:

(1) Kilindini Harbour Works 1,140,000
(2) Uasin Gishu Railway 1,224,000
(3) Repayment to the Treasury of loans already made for development purposes 1,103,912
(4) Repayment to revenue of advances from revenue for military expenditure in connection with the war and for purchase of reserve stores for railway and steamer services 600,000
(5) Payment of interest 477,688
(6) Expenses of issue, including discount 454,400
I have no exact account showing expenditure to date, but items (3) and (4) are fully expended, while interest to the amount of £400,000 has been incurred to date, not all out of loan funds, and the expenses of issue, including discount, amounted to £448,620. Up to the end of April, 1923, the amounts advanced to the contractors for the Uasin Gishu Railway were £1,124,739. The amounts similarly advanced to the contractors for the Kilindini Harbour are not known: the last figure supplied was £148,000.

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