Aid to Developing Countries (Surplus Productive Capacity)

HC Deb 18 June 1963 vol 679 cc31-2W

45. Mr. Jay

asked the Chancellor of the Exchequer what progress has now been made in the grant of special credits for the use of idle capacity for exports to developing countries; and whether he now proposes to extend the facilities.

Mr. Maudling

Under the Government's plan for linking aid to the developing countries with the use of surplus productive capacity offers of additional aid have been made to the value of some £15 million. Formal loan agreements have been signed for over £7 million of this total, and, in addition, an agreement to lend £2 million to Pakistan, for the purchase of sugar machinery, is being signed today. We shall continue to make every effort to match proposals for overseas aid with the use of spare capacity.