Financial Assistance
House of Commons Debate 01 March 1962 Hansard Vol 654 cc175-6W 175W
Dr. Bennett
asked the Secretary of State for the Colonies if he will make 176W a statement about his recent financial discussions with a delegation from the Uganda Government.
§ Mr. Maudling
Yes. Her Majesty's Government have reviewed with the Uganda Government the financial resources which are likely to be available to that Government over the next few years for recurrent and capital expenditure, particularly in respect of the five-year Development Plan which began on the 1st July, 1961, and the Compensation Scheme for designated officers. Her Majesty's Government have agreed, subject as necessary to the approval of Parliament, to give the following assistance to Uganda:
(1) The Colonial Development and Welfare moneys already promised to Uganda and un-issued at the 1st July, 1961, amounted to £1.85 million. To the extent that any balance remains unspent at independence, this sum will continue to be available after independence in the form of grants for purposes to be agreed with the Uganda Government.
(2) A special grant towards the Development Plan of £1½ million, available to be drawn evenly between the date of independence and 30th June. 1964.
(3) The Exchequer loan of £2.75 million already promised, to be provided under Section 2 of the Colonial Development and Welfare Act, will be made available towards the Development Plan before independence.
(4) A Commonwealth Assistance loan of £2.4 million towards the Development Plan, available to be drawn evenly between the date of independence and 30th June, 1964.
(5) An interest free loan of £4.25 million, with a grace period on repayment, to assist the Uganda Government to meet its share of the compensation scheme for overseas officers.
(6) A loan of £1.75 million on the normal terms for Commonwealth Assistance loans to assist the Uganda Government in respect of the commutation of pensions of officers retiring from the service.
(7) Her Majesty's Government will continue to meet the costs of Uganda's military forces in the period following independence until the 31st March. 1963. up to about £200,000; and will provide the £50,000 required in that period to complete capital works at Jinja barracks.
(8) Her Majesty's Government will also be happy to enter into a Technical Assistance Agreement with the Government of Uganda after independence
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