(1) The Secretary of State shall have power, for the purpose of promoting the development or maintaining the economy of a country or territory outside the United Kingdom, or the welfare of its people, to furnish any person or body with assistance, whether financial, technical or of any other nature.
(2) Any such assistance may be provided on such terms and subject to such conditions (if any) as the Secretary of State may determine.
(3) In particular any such assistance, other than financial assistance, may be provided free of charge or on such terms as to payment as the Secretary of State may determine, and financial assistance may be provided by way of grant or, subject to subsection (4) below, loan, or partly in the one way and partly in the other.
(4) No assistance shall be provided by way of loan except on such terms and subject to such conditions (if any) as may be approved by the Treasury.
(5) For the purpose of enabling him to furnish technical assistance under this section, the Secretary of State may undertake, or promote the undertaking of, such research in the fields of economic development, administration and social services as appears to him appropriate.
(6) Any expenses incurred by virtue of this section by the Secretary of State shall be defrayed out of money provided by Parliament.
(7) Any sums received by the Secretary of State by way of payment of interest on, or repayment of, a loan made under the powers conferred by this section or by way of payment for any assistance under this section, other than financial assistance, shall be paid into the Consolidated Fund.
(8) In this section—
(a) any reference to technical assistance is a reference to assistance in the fields of economic development, administration and social services, consisting in the making available of the services of any body or person, training facilities, the supply of material, or the results of research undertaken in any such fields; and
(b) any reference to a body or person, in relation to a country or territory, includes a reference to the Government of that country or territory.
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