§ 74. Lord Balniel
asked the Secretary of State for the Colonies whether he will make a statement on the recent conference which took place in Nairobi between officials of his Department, the financial officers of the three East African Governments and the East African High Commission.
§ Mr. Lennox-Boyd
At this conference the East African Governments and Administrations considered ways and means of obtaining loan capital totalling some £118 million in the period 1956–60 needed to help finance their development programme. The conference examined all likely sources of finance, both within and without East Africa, and reached agreement on a provisional loan programme and on the methods to be used in attempting to find the necessary capital. It concluded that there was a reasonable expectation that the apparent deficit could be tolerated between the funds thought to be available and the £118 million required.