HC Deb 26 February 1968 vol 759 cc223-4W
35. Mr. Wall

asked the Secretary of State for Foreign Affairs if he will make a statement on the application of the United Arab Republic for a financial loan; and what was the reply made.

77. Sir B. Janner

asked the Secretary of State for Foreign Affairs what assurances he has received that a loan granted to the United Arab Republic by Her Majesty's Government will not be used for the purchase of armaments or for other belligerent purposes.

Mr. George Brown

The United Arab Republic Central Bank has been seeking a short-term facility from Western financial institutions in order to meet its obligations to the International Monetary Fund. The intention is that the facility should be repaid in full following further drawings for which the United Arab Republic is applying to the Fund. With Her Majesty's Government's approval, the Bank of England have agreed to participate in such a facility.

Mr. Biggs-Davison

asked the Secretary of State for Foreign Affairs why, and on what terms, the United Kingdom is participating in an international loan to the United Arab Republic.

Mr. George Brown

I have nothing to add to my reply today to the hon. Gentleman the Member for Haltemprice (Mr. Wall) and my hon. Friend the Member for Leicester, North-West (Sir B. Janner).