$40 Million ‘Severance Pay’
p. 13 · Read in the full issue
Britain will make more than SA4O million available to the Solomon Islands during the first four years of independence.
The amount of the financial settlement was agreed at talks held in London in May between British negotiators led by Lord Goronwy- Roberts, Minister of State for Commonwealth and Foreign Affairs, and a Solomon Islands delegation led by Chief Minister, Mr Peter Kenilorea.
The amount will be divided into financial aid to meet the budget deficit, a grant to promote joint venture projects, and development aid loans on concessionary terms.
A communique issued after the talks said: “Exploratory talks were also held on other matters connected with independence to enable both sides to prepare for a formal constitutional conference to be held in London as soon as possible.”
Solomon Islands' independence is scheduled for early 1978.