Mr Morrice
Mr Clift
CONFIDENTIAL
HKK166li
RECEIVED IN REGISTRY NO. 51 30 SEP 1980
DESK OFACER
127
INDEX
PA
REGISTRY Action Tak
ملل
Ms Ich.co.
Aw/
ECGD AND CASTLE PEAK 'B' POWER STATION
1. I have talked to Mr Broadbent about this. He in turn has spoken to ECGD and the Bank of England. The latter admit that they do not have any paper analysing Hong Kong's prospects but that their concern is instinctive. If we pressed them they would produce such a paper. I think we should ask for one since, although their particular project is likely to get the go-ahead, the problem will almost certainly arise again in another context. If you agree I will draft.
ECGD on the other hand explained that their concern was primarily at having 25% of their commitment in one market rather than having it in Hong Kong. They feel quite understandably that they need to get this risk endorsed by Ministers.
2.
30 September 1980
P J Williamson
Hong Kong and General Department
CONFIDENTIAL