Skip to main content

European Investment Bank (Loan Guarantees)

Volume 75: debated on Tuesday 12 March 1985

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Secretary of State for Foreign and Commonwealth Affairs whether the British guarantee on loans from the European Investment Bank provided under the Lomé conventions has ever been called.

Yes. The European Investment Bank made a loan from its own resources provided under the first Lomé convention to the Liberian Electricity Corporation. During 1984 the Liberian Electricity Corporation failed to repay two instalments of the loan totalling 706,772 ecu (about £444,000) and the Government of Liberia failed to meet the bank's call on its guarantee. The loan is also guaranteed by the member states of the Community. Her Majesty's Government therefore paid 157,474,33 ecu (approximately £99,000) to the bank in two instalments which was drawn from the accumulated British share of repayments by African, Caribbean and Pacific states on loans made from the European development fund, which are lodged in a special account at the European Investment Bank. We were informed on 27 February that the Liberian authorities have now paid the instalment originally due on 30 April 1984; the British share of this was 77,524,80 ecu (approximately

Unfair dismissal3,5853,7043,9123,8943,5843,7563,5243,1773,043
Redundancy Payments3893943242871,191590499440619
Unfair dismissal/Redundancy payments316607272101167247256226182
Sex discrimination212115221518153042
Equal Pay199803598124629
Race Relations5234324
Other employment protection rights67143143431184152217167261
Health and Safety47814141581010
Industrial training levy624671314113
I regret that information on the number of applications made in each of the districts in Glasgow is not readily available and could only be obtained at disproportionate cost. Information on the causes of complaint is not available in the form requested for the years prior to 1976.Figures on the number of complaints in all jurisdictions which were upheld by the industrial tribunals over the last

£49,000), which is being refunded by the European Investment Bank. The bank, with support from the Community is continuing its efforts to obtain complete settlement from the Liberian authorities.