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European Investment Bank

Volume 960: debated on Friday 15 December 1978

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asked the Secretary of State for Industry if he will publish the guidelines by which his Department operates when considering the allocation of finance from the European Investment Bank for projects in special development areas, development areas and intermediate areas.

The general guidance under which my Department operates the exchange risk guarantee scheme on loans from the European Investment Bank has been published and I am sending my hon. Friend separately a copy of this guidance. The detailed administrative guidance for officials in my Department is not published. As my hon. Friend will be aware, the exchange risk guarantee scheme applies essentially to projects in manufacturing industry which create additional employment in development and special development areas. We are prepared, exceptionally, to consider employment-creating projects in intermediate areas and projects which preserve employment throughout the assisted areas.