FINANCIAL AID

Wairarapa Times-Age, 2 August 1941, Page 5

FINANCIAL AID

CAPITAL DEVELOPMENT OF COLONIES

CONTINUED BY BRITAIN.

IN SPITE OF WAR DEMANDS,

(British Official Wireless.)

RUGBY. July 31

The capital development of the Colonial Empire with financial assistance from Great Britain continues in spite of the demands of the war. This is shown by the eleventh final report of the Colonial Development Advisory Committee.

During the period April, 1939, to July, 1940, after which the Colonial Development and Welfare Act came into force, the committee recommended assistance from the Colonial Development Fund amounting to £966,095 toward schemes estimated to cost altogether £2,009,298. This brings the total assistance since 1939 to £8,875,083 toward the total estimated expenditure of £19,284,536, of which £5,671,656 was recommended for free grant and £3,203,427 for loan. The committee claims that this aid has fostered in no small measure the development of the resources of the colonies, while contributing considerably to employment in Great Britain. During the period assistance had not been given unless, first, the schemes could be carried out with local resources of men and materials and without detriment to the war effort, secondly, that no expenditure outside the sterling area was involved, and, thirdly, that the schemes were important and urgent. Of assistance recommended since April, 1939, 40 per cent had been for public health, 18 per cent for agricultural developments, 11 per cent for electricity, 8 per cent for water supplies and water power, and 7 per cent for land reclamation and drainage.