Colonial Development Corporation

HC Deb 31 July 1962 vol 664 cc58-9W

62. Mr. Chapman

asked the Secretary of State for the Colonies to what extent the Colonial Development Corporation will be able to continue to invest in Jamaica and Trinidad after independence.

70. Sir R. Robinson

asked the Secretary of State for the Colonies whether he will now make a statement about the operations of the Colonial Development Corporation in newly independent Commonwealth countries.

Mr. Sandys

It has been decided to extend the scope of the activities of the Colonial Development Corporation which have hitherto been confined to dependent territories. It is proposed henceforth to authorise the Corporation to undertake new development schemes in countries in which it was previously empowered to operate after they have become independent Members of the Commonwealth. The Corporation will be renamed the Commonwealth Development Corporation. The accessary legislation will be introduced as soon as possible.