HONG KONG
Financial assistance from the U.K.
C
57
1. H. M. G.
The Governor of Hong Kong proposes that should
(a) waive repayment of past loans-
in-aid
£3,250,000
(b)
assume liability for the expendi- ture, detailed in the annexure, connected with occupation,
etc., estimated at ..
£3,687,000
TOTAL
26,937,000
2. assumptions
(d).
The above proposals are made on the
(1)
that Hong Kong will not be called upon to make a contribution towards the cost of Military Administration:
(11)
3.
that no compensation is to be paid for war damage in Hong Kong.
The Governor of Hong Kong has also made a proposal that the United Kingdom might make an interest- free loan of up to 3 million towards the cost of a new airport.
4.
H. M. G. might be prepared to reconsider, in this connection, the question of a contribution to the University. The capital cost of rehabilitating the University is estimated at 24,000,000 (2250,000) and the inclusion of that sum, or any part of it, in the present general settlement as an amount to be made available to Hong Kong from U.K. funds for the purpose of being passed on to the University would be very greatly appreciated locally.
5.
The total assistance under the suggestions set out above, including the waiver of the repayment of past loans-in-sid works out at:-**
Grant
Loan
Baragraph 1...£6,937,000
Paragraph 3..£3,500,000
Paragraph 4...& 250,000
TOTAL
£7,187,000
£3,500,000