HR
Cutting dated
THE GUARDIAN
10 FEB 1969
19
60
French aid for Hongkong
Hongkong, February 9
A consortium of French banks has agreed to finance Hongkong's cross-harbour tunnel which is to cost £19.2 millions. The "Hong- kong Standard reported that the agreement could be signed in a few weeks
The company building the tunnel sought financial backing in France after failing to secure a loan from the British Export Credit Guarantee Department. Talks in London broke down in October when the department offered a loan of about £12 mil- lions repayable over 10 years at 5 per cent interest, which the company regarded unsatisfactory.-Reuter.
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