Aid Loans

HC Deb 13 July 1988 vol 137 cc202-3W

Mr. Hanley

To ask the Secretary of State for Foreign and Commonwealth Affairs if he will list the countries that have had their aid loans cancelled by the United Kingdom Government since 1983(a) by date of loan, (b) by name of country, (c) by amount of loan and (d) by date of cancellation.

Mr. Chris Patten

The information is as follows:

		Original loans cancelled
Country	Date cancellation agreement signed	Date of loan	Original value	Amount waived (principal + interest)
			(£ millions)	(£ millions)
East African Community	July/August/October 19841	1961/19632	1.000	0.469
		19613	8.500	3.263
		1965	3.150	0.904
Ethiopia	January 1985	1971	0.197	0.010
		1971	0.660	0.275
		1972	0.384	0.129
		1973	0.341	0.275
		1973	2.416	1.879
Ghana	June 1985	1967	3.766	1.988
		1968	4.624	2.752
		1969	5.400	2.565
		1970	3.700	1.943
		1971	2.492	2.575
		1971	1.200	0.400
		1975	10.050	8.654
		1978	19.981	17.981
		1981	9.994	9.994
1 Agreements were signed with each member country (Uganda in July, Kenya in August and Tanzania in October).
2 Entry covers two related loans which were subsequently treated as one.
3 Entry covers five related loans which were subsequently treated as one.

In addition, an agreement is due to be signed during 1988 with Senegal which will waive £1.071 million (interest and principal) on a loan of original value £1.000 million.

Mr. Hanley

To ask the Secretary of State for Foreign and Commonwealth Affairs if he will list the countries that have negotiated with the United Kingdom Government better rescheduling terms for their aid loans since 1983(a)

	Rescheduling loans Terms	Original loans covered by the rescheduling loans Terms
Country	Year signed	Total rescheduled (£ millions)	First repayment date	Final repayment date	Payments per year	Interest rate (per cent.)	Year signed	Total value (£ millions)	First repayment date	Final repayment date	Payments per year	Interest rate (per cent.)
Bolivia	1986	0.054	30 June 1990	31 December 1996	2	0	1973	0.422	15 December 1975	15 December 1997	2	0
Brazil	1984	0.961	20 May 1984	1 July 1992	2	6	1973	10.000	20 May 1978	20 November 1998	2	5
Costa Rica	11984	0.380	30 September 1984	30 June 1989	2	6	1973	3.000	15 August 1973	15 February 1998	2	6
	11984	0.549	30 September 1984	31 March 1992	2	6	As for previous rescheduling loan
Jamaica	21984	5.235	31 December 1984	15 August 1993	2	6	1978	20.000	17 July 1981	17 January 2003	2	6
							1978	2.750	21 March 1979	21 March 2003	2	6
							1978	2.750	30 May 1982	30 November 2003	2	6
							1979	2.000	19 April 1983	19 October 2004	2	6
							1981	6.000	23 July 1984	23 January 2006	2	6
							1981	5.000	December 1984	June 2006	2	6
							1982	2.500	18 December 1985	18 June 1992	2	4
							1982	3.000	June 1986	December 1992	2	4
	21984	0.629	15 August 1985	15 August 1989	1	6	As for previous rescheduling loan
	21985	3.030	31 March 1991	September 1995	1	6	As for previous rescheduling loan
Zambia	31983	0.322	December 1983	June 1988	2	2	1973	1.014	31 December 1980	30 June 1998	2	0
							1978	9.260	30 September 1985	31 March 2003	2	2
							1978	20.000	February 1986	August 2003	2	2
							1980	10.000	24 July 1987	24 January 2005	2	2
	41983	0.680	December 1983	June 1993	2	2	As for previous rescheduling loan
	41984	0.865	December 1989	June 1994	2	2	As for previous rescheduling loan plus 1983 rescheduling loans
	41986	2.527	December 1991	June 1996	2	2	As for previous rescheduling loan
1 These loans cover payments from two separate periods of the same original loan.
2 These loans cover payments from three separate periods of the same eight original loans.
3 These loans cover payments from two separate periods of the same four original loans.
4 These loans cover payments from two separate periods of both the orginal four loans and the two 1983 rescheduling loans.

Following recent agreements in the Paris club, the Government are at present negotiating bilateral rescheduling agreements with Costa Rica, Brazil, Ecuador, Cote d'Ivoire, Nigeria and the Philippines.