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Reconstruction (British Assistance)

Volume 154: debated on Monday 15 May 1922

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asked the Prime Minister whether, in the event of the British delegation at Genoa considering the reply of the Russian Government to the Memorandum of 3rd May, or as it may be subsequently modified, satisfactory, he will say what is the total sum which it is intended this country shall be pledged to advance to the Soviet Government under the Trade Facilities Act, under the scheme of an international corporation, under the exports credit scheme, or other financial scheme for the reconstruction of Russia?

It has been repeatedly stated that it is not proposed by His Majesty's Government to make any loan to the Soviet Government. As regards trade credits under the Trade Facilities Act or in connection with the International Corporation, I can make no statement in the present conditions at Genoa.

Will financial assistance be given to British merchants desirous of opening up trade with Russia or to the Russians themselves?

The proposals discussed were of the nature indicated in the hon. and gallant Gentleman's question.