TNAG-0423-FCO40-469-Construction-of-an-underground-railway-system-in-Hong-Kong-1973 — Page 194

CYPHER/CAT A

GPS 850

FM HONG KONG 041112Z

RESTRICTED

RESTRICTED

TO PRIORITY DTI TELNO EXCED 22 OF 4 APRIL. 1973

FOR FELL FROM ASTON,

ZAVEL MISTRY).

НКК

2

hi

COPY TO DTI FOR WATSON (0.P.G) AND MISS WELCH (CRE 2) AND TO FCO FOR STUART (H.K.1.0.D) AND FINLAYSON (EPD),

M.T.S.

j

86

FRENCH AND GERMAN COMMERCIAL CONSULS CAME TO SEE ME TODAY AT

THEIR OWN REQUEST TO SEEK MY ASSISTANCE IN CLEARING THEIR MINDS

ABOUT ECGD OFFER IN PARTICULAR IN CONNECTION WITH REPORTS THEY

HAVE TO MAKE TO THEIR QUOTE FINANCE AUTHORITES UNQUOTE ON RECENT

TALKS.

2. THEY HANDED ME A PIECE OF PAPER SETTING DOWN THE ECGD TERMS AS UNDERSTOOD, AND EXPRESSED, BY THE GERMAN BANKING MEMBER OF

THE CONSORTIUM. THEY UNDERSTOOD THAT THESE WERE A COMBINATION OF WHAT HE HAD BEEN TOLD BY FINANCIAL-SECRETARY, SANDBERG AND G.K.N.

FOLLOWING IS TEXT:-

BEGINS.

QUOTE E.C.G.D. TERMS.

FIRMLY OFFERED TO THE HONG KONG GOVERNMENT ARE AS FOLLOWS:

BASIC INTEREST 6 PER CENT (PLUS CHARGES AND FEES).

CAPITALISATION OF INTEREST PERMITTED DURING DRAW-DOWN OVER 6

YEARS.

/REPAYMENT,

RESTRICTED