HC Deb 22 March 1960 vol 620 cc19-20W
Mr. Warbey

asked the Chancellor of the Exchequer (1) what are the minimum and maximum rates of interests at which loans have been made by the International Finance Corporation; what are the normal repayment terms; what is the rate of interest charged on loans made during the past year; and what, at this rate of interest, is the total amount repayable per £1,000 of capital advanced;

(2) what is the total amount of loans made to date by the International Finance Corporation; and what is the total sum repayable on these loans, including interest and any other charges.

Mr. Barber

The International Finance Corporation's Third Annual Report, a copy of which is in the Library, shows that the cumulative total of commitments entered into by the Corporation up to 30th June, 1959, was $19,832,000. As explained in the Report, these commitments do not take the form of conventional fixed-interest loans, but carry interest and some right to share in the profits and growth of the business concerned. The Report also states that the terms of investment are matters for negotiation to suit the circumstances of each case. For these reasons, it is not possible to provide the information requested in the last part of each of the hon. Member's Questions, but the Report shows that Che fixed interest payable on investments approved has been between 5 per cent. and 7 per cent.