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Dept of Trade and Industry

Answer

Mr. Austin: To ask the Secretary of State for Trade and Industry if he will list the loans underwritten by Her Majesty's Government to companies implicated in the current criminal trial concerning bribery and corruption in Lesotho. [127078] Mr. Caborn: [holding answer 20 June 2000]: Charges have been laid against various consortiums involved in the Lesotho Highlands Water Project. Kier International, Stirling International, Balfour Beatty, and Kvaerner Boving are UK members of consortiums involved in the project. All deny having been involved in any malpractice. From records readily available the following loans have been underwritten by Her Majesty's Government through, ECGD, to these companies: _________________________________________________________________________________________________. Company/market Date of loan Loan value (million) Lender Borrower Stirling International Civil Engineering Ltd. Lesotho 18 November 1991 £49.3 Hill Samuel Bank{1} Lesotho Highlands Development Authority Lesotho 14 December 1994 £9.7 Hill Samuel Bank{1} Lesotho Highlands Development Authority Kier International Ltd. Lesotho 18 November 1991 £49.3 Hill Samuel Bank Lesotho Highlands Development Authority Lesotho 14 December 1994 £9.7 Hill Samuel Bank Lesotho Highlands Development Authority Romania 14 March 2000 euro 88.3 Deutsche Bank Ministry of Public Works and Territorial Planning Egypt 12 November 1981 £32.0 HSBC Ministry of Development Kvaerner Boving Ltd.{2} Lesotho 17 February 1994 £4.7 West Merchant Bank Lesotho Highlands Development Authority India 2 November 1989 £31.8 West Merchant Bank National Hydroelectric Power Corporation India 11 October 1996 £20.4 Barclays Bank Nathpa Jhakri Power Corporation Hong Kong 4 August 1990 £10.4 J. Henry Schroder & Co. Castle Peak Power Co. Ltd. Balfour Beatty Ltd. Lesotho 18 November 1991 £49.3 Hill Samuel Bank Lesotho Highlands Development Authority Lesotho 15 December 1995 £1.8 Hill Samuel Bank Lesotho Highlands Development Authority Lesotho 14 December 1994 £9.7 Hill Samuel Bank Lesotho Highlands Development Authority China 18 March 1996 £8.2 West Merchant Bank Ltd. Bank of China Netherlands Antilles 10 January 1991 $18.0 Barclays Bank Resort of the World NV Malaysia 12 July 1991 £305.0 J. Henry Schroder & Co. Tenaga Nasional Berhad Thailand 17 August 1994 £15.0 Australia and New Provincial Electricity Zealand Banking Group Authority Turkey 30 July 1987 $18.1 Deutsche Bank AG Ministry of Housing and Reconstruction _________________________________________________________________________________________________. {1} ABN AMRO Bank later took over the loan {2} Now known as GE Energy (UK) Ltd.

Secondary information

Type

Written question

Reference

127078; 352 c236W

Session

1999-00

Subjects

Corruption Export credit guarantees Trials Lesotho

Contains statistics

Yes

Link

View this Written question on www.publications.parliament.uk