§ Mr. Shoreasked the Minister of Overseas Development what offer, in addition to the £2 million loan made on 20th April and the refinancing loan of £5 million signed on 21st October this year, has been made by Her Majesty's Government in support of Turkey's development programme.
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§ Mrs. CastleThe Turkish Government have been informed that we are prepared to make a further contribution of £2 million towards the capital costs of the development programme.
The new aid, which is for the purchase of British goods essential to the development of the Turkish economy, has been offered on the same terms as the previous programme loan, namely a loan under Section 3 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.
It is hoped that an agreement on the new loan will shortly be concluded with the Turkish Government.