Chapter 929: Loan Received_2

Although Arthur had only obtained an interest-free loan of 160 million Australian dollars, he was quite satisfied with the British approach. This loan could be used by the Australasian Government without any restrictions.

Such terms were better than the low-interest loans offered to many countries and capital entities. Before World War I, France, famous for its loans, imposed many restrictions, one of which was the necessity to spend a certain portion of the loan on purchasing industrial equipment and other supplies from within France itself.

This industrial equipment and supplies were priced higher than the market rate, which meant that, in addition to interest, the French were making a significant profit from the loans.

This was why the French were fond of offering loans before World War I, as it continually generated revenue for the French government regardless of the borrowing country.