HONG KONG MASS TRANSIT SCHEME
TERMS APPROVED
Loan Amount
1
Loan for 85% of UK goods and services
2
Loan in respect of local costs equivalent to 15% of UK goods and services.
Principal Repayments (both loans)
In 24 equal consecutive half yearly instalments over 12 years from scheduled completion of first 4 stages
Interest (both loans)
Interest to be charged at export finance rate (currently 6% p.a.). Interest accruing prior to and on scheduled completion of first 4 stages to be capitalised at export finance rate. Capitalised sum on completion of first 4 stages to be repaid in 24 equal consecutive half yearly instalments concurrently with principal repayments; outstanding balance to carry interest at export finance rate.
w/272.