HC Deb 20 July 1965 vol 716 cc178-9W
6. Mr. Ron Lewis

asked 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. Castle

I 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. Evans

asked 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. Castle

My announcement was warmly received at the Commonwealth Prime Ministers' Conference.