COLONIAL DEVELOPMENT LOANS. (Hansard, 6 December 1933)

§ Sir I. MACPHERSON
asked the Secretary of State for the Colonies how many loans have been granted by the Colonial Development Advisory Committee since 1648W three- and four-apartment municipal houses of ordinary slum-clearance and intermediate types, exclusive of rates, in Edinburgh, Aberdeen, Dundee, Kilsyth, Lanarkshire, Ayrshire and Glasgow, respectively?

§ Mr. SKELTON
The following statement shows the rents charged for houses of three and four apartments erected under the various Housing Acts by certain local authorities in Scotland.
its inception, giving the amount and nature of each loan?

§ Sir P. CUNLIFFE-LISTER
Some 70 loans have been recommended by the Colonial Development Advisory Committee and approved by His Majesty's Government. Lists of those approved prior to 31st March, 1933, are contained in tables appended to the four interim reports of the committee, published as Command Papers under the following numbers:—Cmd. 3540, Cmd. 3876, Cmd. 4079 and Cmd. 4316. The amount and nature of each loan are given in the tables. Details of the further loans which have been recommended by the committee and approved by His Majesty's Government since 31st March, 1933, are contained in the table attached.
1649W

Territory. Description of Scheme. Total Cost (Estimated) I Expenditure United Kingdom. Loan Recommended by Committee. Conditions, etc. Action taken by H.M.G. on Committee's Recommendation.

Kenya Manufacture of paper-pulp from bamboo and sisal waste. 930,000 £620,000 £60,000 Loan to be re-lent to proposed company on the following terms and subject to the following conditions:—(a) the loan to bear interest at 5 per cent., repayment to be made by the company to the Government of Kenya within ten years, or earlier at the option of the company; (b) the loan to rank as a first charge against all the assets and undertaking of the company; (c) definite arrangements, satisfactory to H.M. Treasury and to the Chairman of the Committee, to be first made by the company for the provision of the whole of the capital required by the new undertaking for both equipment and working capital; (d) the personnel which it is proposed should constitute the company's Board of Directors in London to receive the approval of H.M. Treasury and the Chairman of the Committee. The loan to the Government of Kenya to be repaid to the Imperial Exchequer as and when payments are received from the company. Approved 14th July, 1933

Northern Rhodesia. Establishment of an electrolytic refinery for copper. 314,350 155,000 240,000 Loan bearing interest at 4 per cent, to be re-lent to the Rhokana Corporation bearing interest at 5 per cent. The Rhokana Corporation to repay the loan to the Government of N. Rhodesia by five annual instalments beginning in the sixth year from date on which loan was made to the Corporation. The loan to the Government of N. Rhodesia to be repaid by that Government in five equal annual instalments beginning in the sixth year, subject to the proviso that any sums received by the Government in repayment of its loan to the Corporation shall be immediately applied by that Government in repayment of its loan from the Fund. Approved 18th August, 1933

Swaziland… Usutu Bridge 9,360 1,675 9,360 Free of interest for one year, thereafter bearing interest at 4 per cent., repayable in 24 annuities starting in the second year. Approved 11th August, 1933

Telephone extensions. 4,490 1,920 4,490 Free of interest for one year, thereafter bearing interest at 4 per cent., repayable in 20 annuities starting in the sixth year. Approved 11th August, 1933

British Guiana. Bartica-Potaro Road (additional assistance). 7,674 — 7,674 Further loan of £7,674 free of interest for five years, thereafter bearing interest at 4 per cent, to be repaid within 20 years, repayment to start in the sixth year. Approved 25th July, 1933

1650W 1651W

Territory. Description of Scheme. Total Cost (Estimated) I Expenditure United Kingdom. Loan Recommended by Committee. Conditions, etc. Action taken by H.M.G. on Committee's Recommendation.

£ £ £

Windward Island, Grenada. Additional Plant for Power Station, St. George's. 5143 4405 3243 Free of interest for three years, thereafter bearing interest at 4 per cent., redemption payments to commence in the sixth year, the whole loan to be repaid within a period of 20 years from the date of advance. Approved, 28th June, 1993

Reconditioning of the Grand Etang Main Road. 12,490 1,000 7,440 Loan, not exceeding £7,440 free of interest for the first five years, bearing interest thereafter at 4 per cent., and repayable within 20 years. Approved, 11th October, 1993.

Anti- malarial drainage of portion of town of St. George's. 700 — 350 Free grant of £350 and loan of £350 bearing interest at 4 per cent., repayable within 20 years. Approved, 11th October, 1993.

Completion of anti-malarial drainage scheme. 6,000 700 6,000 Loan of further amount required to complete the scheme, not exceeding £6,000 bearing interest at 4 per cent., and repayable within 20 years. Approved, 11th October, 1993.

St. Lucia … Telephone System, Castries. 2,300 1,380 2,300 Loan, bearing interest at 4 per cent., repayable in 10 years. Approved, 13th October, 1993.

1652W

Territory.	Description of Scheme.	Total Cost (Estimated)	I Expenditure United Kingdom.	Loan Recommended by Committee.	Conditions, etc.	Action taken by H.M.G. on Committee's Recommendation.
Kenya	Manufacture of paper-pulp from bamboo and sisal waste.	930,000	£620,000	£60,000	Loan to be re-lent to proposed company on the following terms and subject to the following conditions:—(a) the loan to bear interest at 5 per cent., repayment to be made by the company to the Government of Kenya within ten years, or earlier at the option of the company; (b) the loan to rank as a first charge against all the assets and undertaking of the company; (c) definite arrangements, satisfactory to H.M. Treasury and to the Chairman of the Committee, to be first made by the company for the provision of the whole of the capital required by the new undertaking for both equipment and working capital; (d) the personnel which it is proposed should constitute the company's Board of Directors in London to receive the approval of H.M. Treasury and the Chairman of the Committee. The loan to the Government of Kenya to be repaid to the Imperial Exchequer as and when payments are received from the company.	Approved 14th July, 1933
Northern Rhodesia.	Establishment of an electrolytic refinery for copper.	314,350	155,000	240,000	Loan bearing interest at 4 per cent, to be re-lent to the Rhokana Corporation bearing interest at 5 per cent. The Rhokana Corporation to repay the loan to the Government of N. Rhodesia by five annual instalments beginning in the sixth year from date on which loan was made to the Corporation. The loan to the Government of N. Rhodesia to be repaid by that Government in five equal annual instalments beginning in the sixth year, subject to the proviso that any sums received by the Government in repayment of its loan to the Corporation shall be immediately applied by that Government in repayment of its loan from the Fund.	Approved 18th August, 1933
Swaziland…	Usutu Bridge	9,360	1,675	9,360	Free of interest for one year, thereafter bearing interest at 4 per cent., repayable in 24 annuities starting in the second year.	Approved 11th August, 1933
	Telephone extensions.	4,490	1,920	4,490	Free of interest for one year, thereafter bearing interest at 4 per cent., repayable in 20 annuities starting in the sixth year.	Approved 11th August, 1933
British Guiana.	Bartica-Potaro Road (additional assistance).	7,674	—	7,674	Further loan of £7,674 free of interest for five years, thereafter bearing interest at 4 per cent, to be repaid within 20 years, repayment to start in the sixth year.	Approved 25th July, 1933