HC Deb 23 January 1958 vol 580 cc199-200W
Mr. Iremonger

asked the Under-Secretary of State for Commonwealth Relations what consultations have taken place with the Government of Ghana and Canadian and United Kingdom aluminium producers in connection with financing the Volta River hydro-electric scheme for processing bauxite into aluminium; to what extent it is anticipated that dollar finance is being sought from the United States of America; what effect a disproportionate amount of dollar finance for this scheme might have on the future gold and dollar reserves of the sterling area; and whether he will make a statement.

Mr. Alport

I would refer the hon. Gentleman to my reply of 28th November in which I said that the United Kingdom Government must await the outcome of the discussions between the Ghana Government and the aluminium companies. No doubt the Government of Ghana will be communicating with us in due course on this matter.

The Finance Minister of Ghana informed us during his recent visit that he had had talks in the United States and Canada with regard to possible sources of finance. I have no reason to believe that a measure of dollar finance could be other than helpful in this project. No doubt a large proportion of the aluminium produced would save or indeed perhaps earn dollars for the sterling area.

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