§ 6. Mr. Ron Lewisasked the Minister of Overseas Development what effect her recent announcement on additional financial assistance to overseas territories will have on the balance of payments.
§ Mrs. CastleI assume that my hon. Friend is referring to my announcement of the decision to grant interest-free loans. Loans on these terms will not represent a burden to our balance of payments in the next few years in view of our present practice of giving waivers of interest. It does, of course, represent a significant concession in the long term, though the amount will depend on the total amount of interest free loans which we make.
§ 31. Mr. Ioan L. Evansasked the Minister of Overseas Development what response she has received from Commonwealth countries to her announcement of the availability under certain circumstances of interest-free loans for economic development.
§ Mrs. CastleMy announcement was warmly received at the Commonwealth Prime Ministers' Conference.