§ Major Lyonsasked the Secretary of State for the Colonies what is the aggregate total of loans and grants made by the Colonial Development Fund from 1929 to date to each of the East African Colonies, including Zanzibar; how much of the principal of all such loans has so far been repaid; and what interest rates are at present being charged for loans made by this fund to the various Colonies?
§ Mr. Emrys-EvansThe aggregate totals of loans and grants made to the East African territories concerned to date from the Colonial Development Fund set up by the Colonial Development Act, 1929, are as follow:
Loans Grants … £ £ Kenya … 153,165 192,498 Uganda … Nil 24,651 Tanganyika Territory … 78.554 537,860 Zanzibar … 18,271 9,163 Totals … £249,990 £764,172 The loans to Tanganyika and Zanzibar have been wholly repaid. Repayments to date by Kenya amount to £20,923.
With one small exception, the outstanding loans are bearing interest at the rate of 3½ per cent. per annum, which was the rate fixed at the time the schemes were approved. The one exception is that of a loan of £1,687 on which interest has been fixed at 4 per cent. per annum. The actual payment of interest in this case together with the question of repayment of capital has, however, been deferred until the end of the war.