TNAG-0565-FCO40-660-Construction-of-an-underground-railway-system-in-Hong-Kong-1975 — Page 109

offer to Hong Kong have now been conveyed to them in

Cotterill's telex at Flag B.

Mr.

I have discussed them with

Mr. Marlow in TRED, who shares my view that the conditions

by and large quite favourable.

are

2.

I have also spoken with CRE 4 who will today be telegraphing

their comments on the ECGD offer to Mr. Kinnear. We will be

view

sent a copy. They take the wax that although the terms are

not in all respects quite as good as they could have wished

for purely on the grounds of the business with Hong Kong, they

nevertheless represent the best offer which could be obtained

within the limits set by overall export credit policies at the

present time. The telegram will also leave the door open

for any further representations which Mr. Kinnear may wish to make to DOT.

Good.

(J.K.

.K. Hanna)

3/x