Government-to-Government Loans

HC Deb 09 March 1959 vol 601 cc85-6W

Mr. Patrick Maitland

asked the Chancellor of the Exchequer how many requests for Government-to-Government loans have been received by Her Majesty's Government since the Montreal Conference; their total value; how many have been refused or are still under consideration; and their total value, respectively.

Mr. Erroll

Negotiations for the following Government-to-Government loans have been completed since the Montreal Conference:

1. (i) a loan of £28½ million to the Government of India;
2. (ii) a loan of £10 million to the Government of Pakistan;
3. (iii) a loan of £3 million to the Government of Yugoslavia;
4. (iv) a loan of £5 million to the Government of the Sudan;
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5. (v) as part of a joint O.E.E.C. operation, a loan of £3½ million to Turkey.

The total value of these loans is £50 million.

It would not be in accordance with normal practice for me to disclose details of negotiations for any further loans which may be under consideration or which might have been refused.