§ Sir Alastair GoodladTo ask the Secretary of State for International Development how many joint ventures the British Investment in South Africa scheme helped and at what cost to her Department during 1997–98. [41744]
§ Clare ShortThe British Investment in South Africa Promotion Scheme helps to promote investment in South Africa by making available Pre-Investment Feasibility Study (PIFS) grants to small and medium sized British and South African companies. Training grants are also available but have not yet been used. In 1997–98 the scheme disbursed grants worth £296,761 to seven applicants, with a projected investment value of more than £13 million. A further £473,933 was committed to 13 new applicants during the year but this has not yet been spent. The cost of administering the scheme during the year was £74,951. Since the start of the scheme, a total of 29 grants have been awarded and a further five are at an advanced stage of consideration.