HC Deb 09 February 1983 vol 36 cc392-3W
Mr. Colin Shepherd

asked the Secretary of State for Foreign and Commonwealth Affairs what part the United Kingdom will play in the intergovernmental programme of economic assistance for Yugoslavia announced in Berne on 19 January.

Mr. Pym

As their contribution to a $1.3 billion programme involving 15 Governments and on the basis that the other elements of the integrated programme of assistance, including IMF support, will be forthcoming, Her Majesty's Government are arranging credits for Yugoslavia to the value of £78 million. These credits will comprise two elements:

  1. (a) £40 million of medium term loans at a market rate of interest, to be guaranteed by ECGD under its inherent powers to refinance Yugoslav debts to insured United Kingdom exporters falling due in 1983.
  2. (b) £38 million of Government to Government financial loans repayable over three to four years at a market rate of interest. Parliamentary approval for this new service will be sought in a Supplementary Estimate for the International Subscriptions Special Payments etc. (Foreign and Commonwealth Office) Vote in 1982–83.