Sessional Paper No. 11 of 1969 on Government Guarantee of Bank Consortium Loan to the Industrial and Commercial Development Corporation

Abstract

In accordance with the Loans (Guarantee) Act, the Minister for Commerce & Industry has given notice of the following Motion:-THAT, this House approves the proposal by the Government to guarantee a loan to the Industrial and Commercial Development Corporation from the Bank Consortium of a sum not exceeding K£470,000 to be repayable over a period of 5 years with one year moratorium at the rate of 7% per annum payable half yearly as contained on Sessional Paper No.11 of 1969 already laid on the Table of the House.