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British government leads the way against third world arm loans
Regional-UK, Economics, 1/12/2000
The British Government will no longer underwrite loans to third world countries to buy British arms, finance Secretary Gordon Brown announced Tuesday.
Brown said that future export credit guarantees will no longer be extended to "unproductive" projects which will not help the development of the country concerned.
Brown made the statement at the British charity "Oxfam," Tuesday.
The move follows Brown's announcement last month that Britain would write off all bilateral debt to 41 of the world's poorest nations once they had internationally agreed to poverty eradication programs.
Previous Stories:
Algeria thanks Tony Blair for canceling poor countries' debts
(1/10/2000)
Britain waives debt from 41 countries
(12/22/1999)
France announces plan to cancel 40 bln francs of poorest countries' debt
(12/21/1999)
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