§ 49. Mr. Wolfsonasked the Secretary of State for Trade and Industry if he will make a statement of progress on implementing the soft-loans package for exporters announced in 1986.
§ Mr. Alan ClarkI should like to announce that together with my right hon. Friend the Minister for Overseas Development, we have decided to offer to the Chinese Government an increase in the soft loan facility for China from £100 million to £300 million. This support will be provided from the aid programme under the aid and trade provision; it will help the development of China and lead to many projects, orders and jobs won for the United Kingdom. Agreement in principle has been reached with the Chinese authorities on a number of potentially suitable projects. Elsewhere, several projects which may be suitable for soft loan support are under active consideration.