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Tel/1C (Cont.)
which would put the Hong Kong Government off credit
if this was a course they had determined to pursue.
I am not sure to what extent the Hong Kong Government
realize that the terms being offered to them by Met Cam
are exceptionally favourable, and although you
probably cannot refer to this directly, credit terms
for the KCR at this stage would radically alter the
carefully balanced KCR and Island Line deals. Other
factors, such as our reluctance to see a cash contract
change to credit, the delays which consideration of
such a request would cause,are relevant but hardly
persuasive.
You will no doubt discourage the Hong
Kong Government from asking the question. However,
if they, do you should play for time, indicating
how difficult you thought it would be, but undertake
to consult ECGD.
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