§ 81. Mr. Skinnardasked the Secretary of State for the Colonies what funds have so far been allocated to the Seychelles from the Colonial Development and Welfare Fund; what is the size of the interest-free loan offered to Britain by the Seychelles; and why this offer has been accepted.
§ Mr. Rees-Williams£250,000 was allocated to the Seychelles under the 1945 Colonial Development and Welfare Act. Grants totalling £132,500 have been made out of this allocation in respect of specific development and welfare schemes. The Seychelles Government have recently offered His Majesty's Government an interest free loan of £15,000 as a measure of assistance and as a token of solidarity with this country in the present grave economic crisis. This loan was offered out of funds temporarily surplus to the Seychelles requirements and it has been very gratefully accepted by His Majesty's Government as a notable expression of the sympathy felt by the people of the Seychelles, on the understanding that it will be repayable whenever required for development or other necessary purposes in the Colony.