HC Deb 01 May 1981 vol 3 cc475-6W
Mr. Shersby

asked the Secretary of State for Defence what loan facilities are being contemplated to enable Portugal to purchase British-built equipment for its frigates; whether such facilities are competitive with those to be provided by Holland, Norway, Canada and Lichtenstein; and if he will make a statement.

Mr. Speed

As the British contribution to the NATO scheme to help Portugal acquire three new frigates, Her Majesty's Government have informed NATO that they will assist the financing of British equipment for these ships by supporting credit of 85 per cent. of contract price over 8 years at 8½ per cent. per annum. Certain other countries, which have military aid programmes, have offered to give equipment; these include Netherlands, Norway, Canada and Luxembourg.