§ Mr. Hector Hughesasked the Secretary of State for Commonwealth Relations (1) if he will state the proportions of British money and of World Bank money, respectively, which were contributed to the building of the Kariba Dam; how much money is still due and owing to each of them, respectively, and by whom; what is the nature of the securities which each of them holds for the repayment of that money; and, in the meantime, what is the nature of their protection of the Kariba Dam as an asset;
(2) in which nations the title in the Kariba Dam is vested; upon what terms they enjoy that title; and what steps Great Britain is taking to maintain the protection of the Kariba Dam.
§ Mr. Bottomley, pursuant to his reply [OFFICIAL REPORT, 21st December, 1965; Vol. 722, c. 393–4] supplied the following information:
The title to the Dam is vested in the Central African Power Corporation. It is not vested in any nation. The Power Corporation is a body corporate under the law of Southern Rhodesia and also under the law of Zambia, and its title, in so far as it derives from this, depends on the law of Southern Rhodesia in 86W respect of that part of the Dam which is within Southern Rhodesia and on the law of Zambia in respect of that part within Zambia.
The terms upon which the Central African Power Corporation enjoys its title is that it should supply electricity to undertakings within the Territories and continue to operate and develop the system for the generation and transmission of electricity associated with the Kariba scheme. In carrying out these functions the Corporation is under the general control of a Higher Authority on which the Government of Zambia and the Government of Southern Rhodesia are equally represented. The Higher Authority has the power to give the Corporation directions of a general nature as to the exercise of its functions and the Corporation has to comply with any such directions.
The British contribution to the Kariba Dam was £18 million or 22.5 per cent. of the total loan. This was divided into £15 million from the Colonial Development Corporation and £3 million from the Commonwealth Development and Finance Company.
The International Bank for Reconstruction and Development's contribution was some 35.8 per cent. or £28.6 million. Other contributions came from the former Federal Government, the Copper Companies, the Standard Bank of South Africa and a local contribution from Barclay's Bank D.C.O.
The amount owing to the Colonial Development Corporation is £14.9 million, to the C.D.F.C. £2.8 million. The I.B.R.D. loan outstanding is some £23 million. The securities and loans are covered in agreement with the Central African Power Corporation, guaranteed 50 per cent. by the Government of Southern Rhodesia and 50 per cent. by the Government of Zambia. In addition the I.B.R.D. loan is guaranteed 100 per cent. by Her Majesty's Government.