§ Mr. Lawrenceasked the Secretary of State for Trade what loan facility has been granted to the Union of Soviet Socialist Republics for 1975, 1976 and 1977; how much of that facility has so far been taken up; and what has been the cost of that facility to date.
§ Mr. MeacherIn February 1975, a £950 million credit agreement was128W arranged with the USSR to apply to major capital goods contracts placed up to February 1980. The total value of contracts so far placed under this agreement is approximately £42 million. Two smaller facilities each for £10 million were arranged in 1975 relating to smaller contracts placed during 1976 and 1977. These have been little used to date. The cost of supporting business under these facilities varies according to the size and nature of the contracts and the terms and conditions applicable to those contracts.