LNM Holdings (Hansard, 28 February 2002)

§ Mr. Whittingdale
To ask the Secretary of State for International Development what the Government's policy is on support for a further application to the EBRD by LNM Holdings for support for the takeover of Sidex Steel. [38845]

§ Hilary Benn
The EBRD exists to help restructure the economies of former communist countries in Central and Eastern Europe. We support all responsible projects that serve this purpose.
The EBRD Board has not been approached with a specific proposal for a further loan to Ispat-Sidex. If a proposal is received we will consider it on its merits.

§ Mr. Whittingdale
To ask the Secretary of State for International Development what discussions took place between her Department and other departments regarding the Government's support for the loan application to the EBRD by LNM Holdings. [38846]

§ Hilary Benn
As is routine, DFID officials invited comments from other interested departments in preparing briefing. There were no discussions.

§ Mr. Whittingdale
To ask the Secretary of State for International Development if she will set out the reasons for the Government's support for the loan application to the EBRD by LNM Holdings. [38847]

§ Hilary Benn
The EBRD exists to help restructure the economies of former communist countries in Central and Eastern Europe. We support all responsible projects that serve this purpose.
EBRD's loan to Ispat-Sidex is providing important support for Romania's economic reform and progress towards EC accession. The World Bank identified the privatisation of the company as a key requirement for economic reform in Romania.