TNAG-0248-FCO40-284-Effect-of-entry-of-UK-into-EEC-on-exports-from-Hong-Kong-1970 — Page 94

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Investment Bank. This sum was allocated as follows:

For economic and social development

and Technical cooperation in independent associated states

For aids to diversification and production in independent associated states

For dependent territories

500 million u/a

230 million u/a

70 million u/a

Under the second Yaoundé Convention, in the period up to 31 January, 1975, the level of aid will be slightly increased to 918 m. u/a for the independent associated states. Of this total 748 m. u/a will be grants out of the European Development Fund, 80 m. u/a will be in the form of soft loans and 90 m. u/a will

be loans from the European Investment Bank. In addition a

total of 82 m. u/a is to be made available to the dependent territories (62 m. u/a in gifts, 10 m. u/a in soft loans and 10 m. u/a in European Investment Bank loans).

12. The second fund provided 230 m. u/a to assist production

and diversification in associated states in order to facilitate

the marketing of the products at competitive prices in Community

markets as a whole. This sum was intended to be used mainly to

assist the changeover in certain ex-French associated states in Africa which had hitherto received premium prices through special

arrangements for some of their commodity exports to the French

market. In the period up until 31 May, 1969, they had gradually

to adjust their arrangements so as to be able to sell in the

Communities at prices more related to world levels.

Secondly,

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