To ask the Chancellor of the Exchequer at what interest rate and for what amount the loan was given by the European Investment Bank in respect of the Channel tunnel; and when it will be fully paid back.
The European Investment Bank approved a loan of £1 billion in 1987 in respect of the Channel tunnel. The loan will primarily be at fixed interest rates and for a range of maturities of up to 25 years. The terms will reflect prevailing market conditions. Because the loan will be drawn down through a series of finance contracts phased over seven years, and not all the loan has been drawn yet, it is impossible to say at this stage when the loan will be fully paid back.
To ask the Chancellor of the Exchequer if the Government have underwritten or offered guarantees on the European Investment Bank's loans to the Channel tunnel promoters.
No.
To ask the Chancellor of the Exchequer if he will name the United Kingdom representative directors on the European Investment Bank board and the number of meetings each has attended in each of the years they have been directors.
The United Kingdom has three full-time representative directors on the European Investment Bank board—Mr. H. P. Evans from Her Majesty's Treasury, Miss E. Llewellyn-Smith from the Department of Trade and Industry and Mr. A. J. O. Ritchie from the Union Discount Co. plc. The number of meetings each has attended in each of the years they have been directors is:
| Years | Attendance | |
| Mr. H. P. Evans | 1989 | 2 meetings |
| Appointed in October 1989 | 1990 | 1 meeting |
| Miss E. Llewellyn-Smith | 1987 | 4 meetings |
Years
| Attendance
| |
Appointed in May 1987
| 1988 | 9 meetings |
| 1989 | 8 meetings | |
| 1990 | 2 meetings | |
| Mr. A. J. Ritchie | 1986 | 1 meeting |
Appointed October 1986
| 1987 | 7 meetings |
| 1988 | 9 meetings | |
| 1989 | 7 meetings | |
| 1990 | 2 meetings |
To ask the Chancellor of the Exchequer what loans or guarantees were given to United Kingdom projects by the European Investment Bank since 1979, with the amount in each case.
The total amount of loans given by the European Investment Bank to United Kingdom projects in each year since 1979 is as follows:
| £ million | |
| 1979 | 553·3 |
| 1980 | 417·3 |
| 1981 | 139·5 |
| 1982 | 273·8 |
| 1983 | 410·7 |
| 1984 | 547·0 |
| 1985 | 660·1 |
| 1986 | 873·8 |
| 1987 | 801·3 |
| 1988 | 790·2 |
| 1989 | 1,084·3 |