Jiangyin Suspension Bridge Project: ODA Minute

HL Deb 15 May 1997 vol 580 cc1-2WA

Baroness Ramsay of Cartvale

asked Her Majesty's Government:

Whether they will provide details of the departmental minute which the Overseas Development Administration laid before the House on 3 April 1997.

Baroness Symons of Vernham Dean

The departmental minute reported that the department had entered into a contingent liability arising from a tax indemnity given to the commercial banks which are financing the Jiangyin Suspension Bridge Project in China. The estimated maximum liability is US$9,740,290 (approximately £6,087,680).

The minute was placed in the Libraries of both Houses and copies were sent, under cover of explanatory letters, to the Chairman of the Public Accounts and Foreign Affairs Committees.