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European Investment Bank Grants(London)

Volume 889: debated on Tuesday 8 April 1975

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asked the Chancellor of the Exchequer if he will specify the loans and guarantees approved by the European Investment Bank for projects in the Greater London area since 1st January 1973.

The European Investment Bank has not so far granted any loans or given any guarantees for projects in the Greater London area. However, the £7 million loan which the Bank made to the Kent and Essex councils in October 1974 to assist with the financing of the second Dartford Tunnel should help to solve the environmental problems of the area by enabling traffic to reach points north and east of London without passing through the Greater London conurbation.