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Colonial Territories (Loans)

Volume 656: debated on Friday 30 March 1962

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asked the Chancellor of the Exchequer if he will give the amounts and the details of colonial loans made by the International Bank of Reconstruction and Development to United Kingdom Colonial Territories guaranteed under the Colonial Loans Act, 1962, during each of the last three years; and if he will state the loans and their amounts that are still outstanding at the most recent convenient date.

Particulars of all loans made by the International Bank for Reconstruction and Development which have been guaranteed by the Treasury under the Colonial Loans Acts, 1949 and 1952 are set out in the table below; the total of these loans is £87·8 million. The loans so made and guaranteed during the last three years are indicated by an asterisk in column 2 of the table; the amounts guaranteed in each of these years are as follows:


Col. 1Col. 2Col. 3Col. 4Col. 5Col. 6Col. 7
Recipient CountryDate of Loan AgreementPurpose of LoanOriginal Principal amount of LoanAmount of Loan Disbursed by I.B.R.D.RepaymentsAmount of Loan Guaranteed and not yet repaid at 31st December, 1961
British Guiana23rd June, 1961*Agricultural development1,250,000NilNil1,250,000
East Africa High Commission (now East African Common Services Organisation)15th March, 1955Railways and harbours24,000,00024,000,0004,060,00019,940,000
Federation of Rhodesia and Nyasaland:
(i)21st June, 1956Electric power development80,000,00080,000,000Nil80,000,000
(ii)16th June, 1958Railway improvements19,000,00019,000,000420,00018,580,000
(iii)1st April, 1960*Agricultural development5,600,0003,505,882Nil5,600,000
(i)27th May, 1960*Agriculture and roads5,600,0002,076,689Nil5,600,000
(ii)29th November, 1961*Land settlement and development8,400,000NilNil8,400,000
Nigeria2nd May, 1958Railway development28,000,00028,000,000Nil28,000,000
Northern Rhodesia11th March, 1953Railway development14,000,00014,000,0003,893,00010,107,000
Southern Rhodesia27th February, 1952Electric power development28,000,00028,000,0007,333,00020,667,000
Trinidad and Tobago16th August, 1961*Electric power23,500,000NilNil23,500,000
Uganda29th March, 1961*Electric power development8,400,0003,773,800Nil8,400,000