§ Mr. Braine
asked the Minister of Overseas Development whether he will make a statement about the terms of United Kingdom aid loans.
§ Mr. Wood
Most of our aid loans are free of interest. In cases where interest268W is appropriate, I have for convenience decided to adopt fixed concessionary rates, ranging from 2 per cent. to 7½ per cent., instead of using the Government lending rate with various waivers of interest in the early years.