78
INDUSTRIAL FINANCE DIVISION
: 071-601 4275
A: 071-601 4947
RJ T Watts Esq
CONFIDENTIAL
HKA 182
Mir with 1019" M.....
Mewan Yu
HM Treasury Parliament Street
London
SW1P 3AG
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£65
2/3
HONG KONG: KAP SHUI BRIDGE AND VIADUCT (ECGD's letter of 25 March)
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BANK OF ENGLAND Threadneedle Street
London
EC2R 8AH
6 April 1992
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The letter dated 24 February from 10 Downing Street made it clear that the Prime Minister would not wish support for Black point to be at the expense of elements of the PADS project. Accordingly, we would not object to an indication being given in this case.
The reference in paragraph 3 to Hong Kong $ financing will necessarily remain subject to satisfactory agreement being reached on the calculation of an HK$ CIRR - I understand that the French have yet to indicate their consent to ECGD's proposals in this respect.
I am copying this letter to David Seddon (FCO), Grant Jones (MoD), Philip Rose (ODA), Peter Casey and Peter Willington (DTI), and to Victor Lunn-Rockliffe and Nancy Cowie (ECGD).
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T JH Downing