§ Mr. Rowlandasked the Minister of Overseas Development what arrangements are being considered to make loan finance for development purposes available to the Gambia Government.
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§ Mrs. CastleAt the time of the Gambia Independence Conference last summer, an offer of various forms of assistance was made to and accepted by the Gambia Government. One item included in this offer was an undertaking that in the period up to 30th June, 1967, Her Majesty's Government would provide a loan of up to £400,000 to the extent that other loan funds were not available to finance or to refinance approved projects in the Gambia Development Programme for the period 1964–1967.
The extent to which Her Majesty's Government will be called on to honour this undertaking in the current financial year is not yet known, but the House will be asked in due course to make the necessary provision by way of a Supplementary Estimate. The Gambia Government may, however, find themselves required to pay back at short notice money which they borrowed on call to meet development expenditure. It is anticipated that some £45,000 will be so recalled shortly and that there will be a consequential request to the British Government to cover the refinancing operation with money from the loan. In that event, advances will be sought from the Civil Contingencies Fund, repayable when the Supplementary Estimate is approved.