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24.9.69.
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Asian Bank would
'gladly consider
A
runway loan
:
the
The Asian Development Bank with headquarters in Manila would gladly consider a loan of $90 million to finance the pro- posed runway extension at Kai Tak Airport if Hongkong made an application, Mr T. Watanabe, President of the ADĚ, said in Hongkong last week...
Mr Watanabe said that since Hongkong recently admitted as a member of the Bank had been classified as a develop- ing country, it was eligible to apply for financial assistance.
"But so far there has been no indication of any application from the Hongkong Government for any kind of loan," he said.
"We will certainly be glad to consider the loan if Hong- kong applies for it."
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Mr Watanabe added that the possibility of Hongkong getting the loan from ADB would depend mainly on the economic merits of the project to the development of the Colony.
The question of obtaining a loan for the project has been left uncertain for months.
Meanwhile, plans have gone ahead for the extension of the runway. Mr T. R. Thomson, Director of Civil Aviation, said in July that Government did not want to lose any time while financial negotiations were under way. He also said A decision on the runway project would have to be taken towards the end of the year.
And this month, Government called for tenders for the "Run- way Extension Site investi- gation for Borrow Areas,” an initial step in the runway extension.mess
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