§ Mrs. Shirley Williams
asked the Minister of Overseas Development whether she will make a statement on the level of Government aid to Turkey in 1964.
§ Mrs. Castle
In addition to the aid amounting to £3,850,000 announced by the then Foreign Secretary on 23rd March, Her Majesty's Government have informed the Turkish Government that they will provide further aid of £3 million this year. This will be on the same terms as the aid announced on 23rd March, namely a loan under Section III of the Export Guarantees Act, 1949, for 25 years with no repayments of capital required during the first seven years and a waiver of interest payments during the same period. The cost of the waiver of interest will be borne on the Vote of the Ministry of Overseas Development. Payments will be made to the Acquisition of Guaranteed Securities Fund, administered by the Export Credits Guarantee Department, in order to recompense the Fund for the interest waived. It is hoped that an agreement on this new loan will shortly be concluded with the Turkish Government.