§ Mr. Dodds-Parker
asked the Secretary of State for Foreign and Commonwealth Affairs whether the offer of financial assistance to Gibraltar for its Viaduct Housing Project, announced on 15th March, has been accepted by the Government of Gibraltar; and whether he will give the details of it.
§ Mr. Wood
The Gibraltar Government have accepted the British offer. The estimated cost of the project, exclusive of land value, is £5.15 millions. This will be financed through British Government Development aid. Three-quarters of the total amount required will be by way of 271W grant and the balance by loan repayable over 25 years.
The financing of this project is likely to be the major part of the Gibraltar Development Programme with which the British Government will be associated during the three years April, 1973, to March, 1976.