§ 62. Sir R. Robinsonasked the Secretary of State for the Colonies to what extent Her Majesty's Government estimate that the Republic of Cyprus will require external financial assistance during the next few years; and what assistance Her Majesty's Government are prepared to give.
§ Mr. J. AmeryHer Majesty's Government, like the Greek and Turkish Governments, consider that the Republic of Cyprus will require some external financial assistance towards its initial development programme, and they are discussing this with the Greek and Turkish Governments. Meanwhile I can state that Her Majesty's Government will be prepared to contribute to the Republic's development programme during the next few years. They are now ready to offer a grant for the construction of a new civil air terminal at Nicosia Airport, on the understanding that satisfactory arrangements for the joint use of the airfield will soon be completed; and a loan for the expansion of the service provided by the Electricity Authority, as part of the long-term arrangements for the supply and distribution of electricity throughout the island.
In addition, they are prepared to consider a loan towards the cost of the scheme for the extension of Famagusta Port, to enable this to be put in hand.
Her Majesty's Government make this announcement now in the confident expectation that the negotiations leading to the establishment of the Republic will be speedily brought to a satisfactory conclusion and as an earnest of their goodwill towards the Republic.