British Council: Loans
(asked on 2nd December 2024) - View Source
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether the British Council has to repay its pandemic loan on commercial terms.
Answered by
Hamish Falconer
Parliamentary Under-Secretary (Foreign, Commonwealth and Development Office)
This question was answered on 6th December 2024
The previous Government made available up to £200 million in loans during the Covid-19 pandemic to ensure the British Council remained solvent, to support restructuring, and to help the British Council return to surplus. The loan was made on commercial terms to ensure compliance with the UK subsidy control regime.
The Government remains committed to recovering the loan as soon as the British Council's finances allow.