Mr. Ted Fletcher
asked the Minister of Overseas Development what offer of assistance was made by Her Majesty's Government at the meeting of the Turkish Consortium of the Organisation of Economic Co-operation and Development, held in Paris on 8th and 9th February.250W
§ Mr. Greenwood
At the recent meeting of the Turkish Consortium, Her Majesty's Government pledged a sum of £3 million in programme aid in support of Turkey's development programme for 1966. The new aid is for the purchase of British goods essential to the development of the Turkish economy. In addition, arising from earlier agreements, Her Majesty's Government will be contributing a further £2.1 million to Turkey for debt relief.
At the same time the British representative announced that Her Majesty's Government's programme aid to Turkey in 1966 would be offered as an interest-free loan of 25 years maturity, with a 2 years grace period followed by a 5-year period of graduated repayments.
It is hoped to conclude a loan agreement shortly with the Turkish Government.