§ Mr. Brockwayasked the Secretary of State for the Colonies to what extent the Eastern Region Finance Corporation has financed agricultural, trading, commercial and industrial projects. respectively, in Nigeria, since its establishment in February, 1955.
§ Mr. Lennox-Boyd,pursuant to his reply [OFFICIAL REPORT, 6th February. 123W 1957; Vol. 564, c. 51], supplied the following information:
Between its establishment and its amalgamation with the Eastern Region Development Corporation in March, 1956, the Eastern Region Finance Corporation provided financial assistance to the following concerns:— — Amount Type of Assistance Agricultural £ — — — Trading African Pioneer Company Limited 10,000 Loan F. O. Mbadiwe & Sons Limited 5,000 Loan E. C. I. Onuigbo Sons and Company Limited 10,000 Loan Eastern Produce and Transport Company Limited 10,000 Loan L. O. Okoro and Company Limited 10,000 Loan Z. C. Obi, Sons and Company Limited 7,000 Loan Jinco and Brothers Limited 3,000 Loan Okereke Brothers Limited 10,000 Loan Commercial African Tailoring Company Limited 2,000 Loan Tourist Corporation of Eastern Nigeria 100,000 Loan Cinema Corporation of Nigeria 100,000 Loan Eastern Nigeria Information Service Corporation 100,000 Originally a grant but later changed to an interest free loan Industrial Nigerian Engineering and Manufacturing Company Limited 100,000 Loan Eastern General Contractors Limited 25,000 Loan Eastern Region Pharmaceutical Corporation 50,000 Loan Eastern Nigeria Printing Corporation 200,000 Loan Other African Continental Bank Limited 789,300 Investment Eastern Region Library Board 35,000 Grant Eastern Nigeria Sports Commission 50,000 Grant Affa Local Government Council 3,000 Loan Approval was also given for a grant of £15,000 to the Eastern Region Economic Planning Commission and for a loan of £150,000 to the Eastern Region Development Corporation. As these two bodies were then amalgamated with the Eastern Region Finance Corporation the money was not paid over.