§ Mr. Hayhoeasked the Secretary of State for Foreign and Commonwealth Affairs what amount of capital aid is being made available by Her Majesty's Government to the Arab Republic of Egypt.
§ Mr. Wood:Her Majesty's Government have offered the Government of the Arab Republic of Egypt capital aid of up to £5 million over the next five years. The aid will be made available in the form of loans repayable over 25 years at 2 per cent. interest with a 7-year grace period during which no repayment of capital will be made. It will be used to provide British goods and services for development projects in Egypt, to be agreed upon between Her Majesty's Government and the Government of the Arab Republic of Egypt.