§ Mr. Wallasked the Secretary of State for the Colonies what assistance Her Majesty's Government propose to make available to the Government of the Gambia to meet the latter's share of the cost of the compensation scheme for overseas officers and the commutation of their pensions.
§ Mr. SandysIn view of the Gambia's present financial circumstances the British Government have agreed to provide the following assistance:
An early issue of approximately £40,000 will be required for compensation and a sum of this amount will be advanced from the Civil Contingencies Fund for this purpose; provision for repayment to this fund will be sought from Parliament by means of a Supplementary Estimate.
- (a) An interest-free loan to cover the Gambia Government's share of the cost of compensation. After a grace period of six years the loan will be repayable by nineteen equal annual instalments.
- (b) A loan on the normal terms for Commonwealth assistance loans to meet the local share of the cost of commutation of pensions. After a grace period of six years, during which interest only will be payable, repayment together with interest will be made by nineteen equal annual instalments.