§ Mr. Roseasked the Minister of Overseas Development if she will make a statement on the recent meeting of the Organisation for Economic Co-operation and Development Turkish Consortium.
§ Mrs. CastleAt the meeting of the Turkish Consortium of the O.E.C.D. held in Paris on 29th and 30th April, the British representative agreed, as part of a 93W common effort to reduce the heavy burden of Turkey's debt service over the next three years, to offer in the years 1965, 1966 and 1967 loans equal to 60 per cent. of the sums due to U.K. creditors under the Paris Agreement of 11th May, 1959. The loan in 1965 will be approximately £1.9 million.
The scheduled repayments under the Paris Agreement will not be affected in any way by this arrangement. I hope that we shall in the near future be entering into negotiations with the Turkish Government on the terms of a loan to give effect to this agreement.