HC Deb 30 March 1962 vol 656 cc154-6W
Mr. G. M. Thomson

asked the Chancellor of the Exchequer if he will give the amounts and the details of colonial loans made by the International Bank of Reconstruction and Development to United Kingdom Colonial Territories guaranteed under the Colonial Loans Act, 1962, during each of the last three years; and if he will state the loans and their amounts that are still outstanding at the most recent convenient date.

Mr. Barber

Particulars of all loans made by the International Bank for Reconstruction and Development which have been guaranteed by the Treasury under the Colonial Loans Acts, 1949 and 1952 are set out in the table below; the total of these loans is £87.8 million. The loans so made and guaranteed during the last three years are indicated by an asterisk in column 2 of the table; the amounts guaranteed in each of these years are as follows:

1959 … … … Nil
1960 … … … £4,000,000
1961 … … … £14,800,000

TABLE
Col. 1 Col. 2 Col. 3 Col. 4 Col. 5 Col. 6 Col. 7
Recipient Country Date of Loan Agreement Purpose of Loan Original Principal amount of Loan Amount of Loan Disbursed by I.B.R.D. Repayments Amount of Loan Guaranteed and not yet repaid at 31st December, 1961
$ $ $ $
British Guiana 23rd June, 1961* Agricultural development 1,250,000 Nil Nil 1,250,000
East Africa High Commission (now East African Common Services Organisation) 15th March, 1955 Railways and harbours 24,000,000 24,000,000 4,060,000 19,940,000
Federation of Rhodesia and Nyasaland:
(i) 21st June, 1956 Electric power development 80,000,000 80,000,000 Nil 80,000,000
(ii) 16th June, 1958 Railway improvements 19,000,000 19,000,000 420,000 18,580,000
(iii) 1st April, 1960* Agricultural development 5,600,000 3,505,882 Nil 5,600,000
Kenya:
(i) 27th May, 1960* Agriculture and roads 5,600,000 2,076,689 Nil 5,600,000
(ii) 29th November, 1961* Land settlement and development 8,400,000 Nil Nil 8,400,000
Nigeria 2nd May, 1958 Railway development 28,000,000 28,000,000 Nil 28,000,000
Northern Rhodesia 11th March, 1953 Railway development 14,000,000 14,000,000 3,893,000 10,107,000
Southern Rhodesia 27th February, 1952 Electric power development 28,000,000 28,000,000 7,333,000 20,667,000
Trinidad and Tobago 16th August, 1961* Electric power 23,500,000 Nil Nil 23,500,000
Uganda 29th March, 1961* Electric power development 8,400,000 3,773,800 Nil 8,400,000