TNAG-1051-FCO40-1301-China-s-economic-relationship-with-Hong-Kong-1982 — Page 87

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China takes up World Bank loan

9.

The World Bank has agreed to supply China with US$200 million in loans and credits for a higher education project designed to increase the number of science and engineering students at 26 Chinese universities from 92,000 to 125,000. The aid comprises a World Bank loan of $100 million spread over 20 years, including a five-year period of grace, with interest at 9.6% per annum. The remainder is a credit of $100 million from the World Bank's International Development Association. The credit, good for 50 years, attracts no interest but carries. a service charge of 0.75% per annum.

Political Adviser's Office

29 June 1981

Distribution:

CS

F'S

DTIC

DIS

CP (5)

GMR

SHA

DPW

PA

SES

D of M

S for E

DCA

S for H

S for I

S for S SNT

C for T DHA D of I DAF

APA

PAS(S)Ops (5)

Commissioner, London

Mr. Thomson, BTC

G INT COLPOLMIL

P.J. Williamson Esq., HKGD, FCO

G.F. 324

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