§ Mr. Jim Spicerasked the Chancellor of the Exchequer what are the terms of the European Investment Bank loan to the Central Electricity Generating Board for plant at Peterhead.
§ Mr. DellThe loan by the European Investment Bank to the North of Scotland Hydro-Electric Board for the power station at Peterhead, announced on 30th May 1974, is for the equivalent of £10.4 million for 20 years at a rate of 9½ per cent.
§ Mr. Jim Spicerasked the Chancellor of the Exchequer what are the terms of the European Investment Bank loan for financing of production installation for the Frigg gas field.
§ Mr. DellThe loan from the European Investment Bank to three companies holding British production licences for the Frigg gas field, announced on 18th July 1974, is for the equivalent of £10.4 million for ten years at a rate of 9⅞ per cent.
§ Mr. Hillasked the Chancellor of the Exchequer what are the terms of the European Investment Bank loan for the expansion of the British Steel Corporation at Llanwern.
§ Mr. Jim Spicerasked the Chancellor of the Exchequer what are the terms of the European Investment Bank loan for the expansion of the British Steel Corporation plant at Llanwern.
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§ Mr. DellThe loan from the European Investment Bank for the British Steel Corporation's plant at Llanwern, announced on 6th December 1973, is for £14.7 million for a period of 18 years at an interest rate of 8½ per cent.
Mr. Blakeasked the Chancellor of the Exchequer if he will publish in the OFFICIAL REPORT a list of all the loans made or approved since 31st December 1972 by the European Investment Bank in respect of projects in the United Kingdom, giving in each case the amount, the rate of interest, a brief description of the project and its location.
§ Mr. DellFollowing is the information:
(1) A loan of £3½ million, announced on 18th July 1973, to the Industrial and Commercial Finance Corporation, which the ICFC will appropriate, with the European Investment Bank's approval, to the financing of small and medium-scale ventures in the development areas of the United Kingdom. The loan is being made in two tranches of £2.5 million and £1 million at rates of interest of 7¾ per cent. for the former, which is a 14-year loan, and 7⅜ per cent. for the latter, which is a nine-year loan.
(2) A loan of £14.7 million, announced on 31st October 1973, for the expansion of the British Steel Corporation's burden-preparation facilities at the Tees-side Iron and Steel Works. The loan is for 17½ years at a rate of 8½ per cent.
(3) A loan of £14.7 million, announced on 6th December 1973, for the expansion of the British Steel Corporation's plant at the Llanwern Iron and Steel Works in South Wales. The loan is for 18 years at a rate of 8½ per cent.
(4) A loan of £10.4 million to the North of Scotland Hydro-Electric Board, announced on 30th May 1974, for the construction of the power station at Peterhead in Aberdeenshire. The loan is for 20 years at a rate of 9½ per cent.
§ Mr. Wigleyasked the Chancellor of the Exchequer what was the total value of loans made by the European Investment Bank last year; what was the proportion of this total loaned to each of the member States of the EEC; and of the United Kingdom total what proportion went to 232W projects in England, Scotland and Wales, respectively.
§ Mr. DellThe total value of loans made by the European Investment Bank last year within the Community or for projects of direct interest to the Community totalled 696.6 million units of account, equivalent to about £350 million. The breakdown by countries is Germany, 29 per cent.; Italy, 29 per cent.; France, 28 per cent.; United Kingdom, 10 per cent.; Ireland, 3 per cent., and Denmark, 1 per cent. Of the United Kingdom total 7.1 million units of account—£3.5 million—was a global loan to the Industrial and Commercial Finance Corporation to finance small and medium-scale projects in the development areas of the United Kingdom, while the two other loans signed in 1973, each for 30 million units of account—£14.7 million—will help to finance two British Steel Corporation projects, one on Tees-side, and the other in South Wales.