WORLD BANK TALKS
Negotiations On Ports
(Parliamentary Reporter) WELLINGTON. Sept 17. Present negotiations by the World Bank with the Treasury and seven harbour boards (Wellington, Napier, Lyttelton, Timaru. Auckland, Whangarei and Otago) were designed to determine the amount the bank would make available for their projects, replied.the acting Minister of Finance (Mr Rae) to Mr N E. Kirk (Opp., Lyttelton) in Parliament this afternoon. Until the negotiations were completed, it would not be possible to say what would be borrowed for port development, Mr Rae said. Mr Kirk said “almost a football team’’ of experts had jus’, gone to New York to borrow for Manapouri hydroelectric and other Government works. What was the total amount of borrowing envisaged?
Mr Rae replied that the World Bank team now in New Zealand was discussing only port development. Mr W. E. Rowling (Opp., Bullet) asked if there would be any upper limit. Mr Rae said the boards would have to obtain Local Government Loans Board consent to their borrowing.
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Bibliographic details
Press, Volume CII, Issue 30239, 18 September 1963, Page 16
Word Count
166WORLD BANK TALKS Press, Volume CII, Issue 30239, 18 September 1963, Page 16
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