§ Mr. Iain Macleod
As I informed the hon. Member last week, discussions have taken place between the Mauritian Ministers and myself and officials of my Department. I have now informed the Ministers that Her Majesty's Government will, subject to Parliamentary approval as necessary, be prepared to make available to the Mauritius Government financial assistance totalling up to £6.33 million. Of this, £0.5 million will consist of a grant and £1.75 million of loans under the Colonial Development and Welfare Act, and the balance of £4.08 million will be made up of grants of just under £3 million and loans of just over £1 million on the Colonial Services Vote, for which Parliamentary approval will be sought in due course.
I have also agreed with the Mauritius delegation that it would be appropriate to review the situation with them in 18 months to two years' time, to consider the possibility of providing further Exchequer loan assistance, if that were shown to be necessary.