NO DOLLARS FOR MALAYA

Press, Volume XCVII, Issue 28530, 8 March 1958, Page 12

NO DOLLARS FOR MALAYA

Explanation By Mr Skinner (New Zealand Press Association) WELLINGTON, March 7. “The newspaper reports of the offer are. correct, except for the implication that New Zealand is offering American Dollars,” the acting Prime Minister (Mr Skinner) said tonight when he clarified the cabled report from Kuala Lumpur that the Prime Minister (Mr Nash) had, on behalf of New Zealand, offered 100,000 dollars to E.C.A.F.E. to assist with the Mekong river power project. “What Mr Nash offered is aid equivalent to 100,000 American Dollars—about £35,700. “E.C.A.F.E. is an organisation of United Nations and for convenience it budgets in American dollars but this does not mean that New Zealand is actually contributing dollars to the project. “The contribution has already been provided for in the Colombo Plan vote, and like all other Colombo Plan grants will be in sterling to the extent that any overseas exchange is required. Some part of the grant may be spent in New Zealand and in any case the expenditure will be spread over a period. “Most New Zealanders wholeheartedly concur in the aid which this country, in co-operation with many others, has been making available to South-East Asia m recent years.” said Mr Skinner. “The uncommitted countries of Asia need and deserve all the help they can get to further their own development and so preserve their freedom and independence. That,, object is as much in our our interests as in theirs.”