TNAG-2408-FCO40-3502-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-Brit-1992 — Page 19

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INDUSTRIAL FINANCE DIVISION

: 071-601 4275

A: 071-601 4947

RJ T Watts Esq

CONFIDENTIAL

HKA 182

Mir with 1019" M.....

Mewan Yu

HM Treasury Parliament Street

London

SW1P 3AG

Dear Loger вода

£65

2/3

HONG KONG: KAP SHUI BRIDGE AND VIADUCT (ECGD's letter of 25 March)

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BANK OF ENGLAND Threadneedle Street

London

EC2R 8AH

6 April 1992

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I fanon HID

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then s/p ith Could

The letter dated 24 February from 10 Downing Street made it clear that the Prime Minister would not wish support for Black point to be at the expense of elements of the PADS project. Accordingly, we would not object to an indication being given in this case.

The reference in paragraph 3 to Hong Kong $ financing will necessarily remain subject to satisfactory agreement being reached on the calculation of an HK$ CIRR - I understand that the French have yet to indicate their consent to ECGD's proposals in this respect.

I am copying this letter to David Seddon (FCO), Grant Jones (MoD), Philip Rose (ODA), Peter Casey and Peter Willington (DTI), and to Victor Lunn-Rockliffe and Nancy Cowie (ECGD).

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Tomo

T JH Downing