§ Mr. Roseasked the Chancellor of the Exchequer whether the Mantaro project, in Peru, for which an Anglo-German consortium is submitting proposals, was considered during recent discussions in Bonn; and with what result.
§ Mr. DiamondYes. Germany will offer, under the Offset Agreement, loan finance of about DM100 million (£8.8 million) in respect of certain United Kingdom goods and services and of associated local costs in the Mantaro project. This is a useful first-fruit of my discussions with the Federal German Ministers and will, I hope, enable the commercial negotiations between the Anglo-German consortium and the Mantaro Corporation in Peru to be satisfactorily concluded. The project would involve United Kingdom exports of over £20 million.