§ Mr. Brockwayasked the Secretary of State for Commonwealth Relations what progress has been made in the development of co-operative societies in Basutoland; and how far such societies are able to provide credit to their farmer 93W members to assist them in their agricultural and pastoral operations.
§ Mr. SandysThere are now over 100 agricultural credit societies in Basutoland. As I informed the House in answer to a Question by the right hon. Gentleman, the Member for Middlesbrough, East (Mr. Marquand) on 30th March, £80,000 had at that time been made available to the Basutoland Administration to finance an agricultural credit scheme through the cooperative movement and to provide loans to co-operative societies.
I am glad to say that arrangements have now been made for a further £100,000 to be made available to the Basutoland Co-operative Banking Union from commercial banking sources. The Banking Union in turn will make advances against this sum to agricultural credit societies for crop loans to farmers.