14. Mr. Philips Priceasked the Secretary of State for Foreign Affairs whether he is aware that Persia has been granted a credit of $25 million from the American Export-Import Bank; and what steps he is taking with the State Department to ensure that nothing which the Persian Government buys with this credit will be used to injure our oil interests in the Persian Gulf.
§ Mr. EdenThis line of credit was negotiated in 1950 and a Bill providing for its acceptance was passed by the Persian Parliament in August, 1951. I am informed, however, that the conditions under which it will be made available are still under discussion between the Bank authorities and the Persian Government.
I understand that credits would be principally in connection with agricultural, road-making and other development schemes. I can, however, assure the hon. Member that His Majesty's Government are fully alive to the considerations in the second part of his Question.