WORLD BANK LOAN
APPLICATION FROM PERSIA SUPPORT OF AMERICAN GOVERNMENT (Rec. 8.30 p.m.) WASHINGTON, June 10. The United States Government will support Persia’s application for a reconstruction and development loan from the World Bank. Persia has applied for 250,000,000 dollars, and it is expected that the bank will grant the full amount. Officials at the Persian Embassy in Washington emphasised that the loan was not comparable with United States aid to Greece and Turkey, since loans from the World Bank could not be spent on military materials. The money would be used to build roads and railways, and to buy farm and factory machinery. „ .. . An agreement by which the United States will turn over to the Persian army and police approximately 30.000,000 dollars’ worth of military supplies, including medicine, clothing, blankets, aircraft, and light tanks, will be signed in Washington this week. All the supplies will come from surplus war stocks. The exact terms of the agreement are not known, but Reuters understands that the United States Foreign Liquidation Commission will extend a credit, which will be repayable over a number of years. , . . The agreement will be subiect to ratification by the Persian Parliament.
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Bibliographic details
Press, Volume LXXXIII, Issue 25208, 12 June 1947, Page 7
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194WORLD BANK LOAN Press, Volume LXXXIII, Issue 25208, 12 June 1947, Page 7
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