DH March Esq
CONFIDENTIAL
4 August 1977
►
that it would be advisable to proceed in the same way next time. ECGD would be prepared, however, to reconsider this point if Thompson brings it up again, in which event we should almost certainly need to ask the Hong Kong Government for their views.
3*
I do not think that ECGD's requirement for a guarantee from the Hong Kong Government (and the similar point that you have picked up in connection with the Hong Kong power station project) ought to be open to the criticism that it demonstrates a lack of confidence in the continuing development of Hong Kong. My impression is that most observers take the view that projects such as the MTR and the power station show that outsiders, including, in particular, HLG are satisfied that the Hong Kong we know at present is likely to be with us for some time.
4. As you know, Charles Birch (ECGD) (together Alistair Macdonald and Lord Kimberley of Lazards
with
) will be
in Hong Kong early next week for discussions with the Hong Kong Government about the financial arrangements for the power station project. I understand that, time permitting, he would be ready to discuss the question of the Hong Kong Government giving a financial guarantee for the next phase of the MTR with you and Norman Thompson.
00:
C Roberts Esq
(CRE4 DOT)
C C Birch Esq
Mr Tumble (TRED)
CONFIDENTI AL
JAB Stewart
6
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