WEST GERMAN INDUSTRY
FUNDS FOR EXPANSION
SPENDING OF £55,000,000 APPROVED BY E.C.A.
(Rec- 7 p.m.) BERLIN, December 23. Reuter says that the United States Economic Co-operation Administration announced in Frankfurt to-day the release of £25,000,bd0 from E.C.A counterpart funds to enable German industries to launch an expansion programme. In addition £18,000,000 would be released for power projects and £12.000.000 for coalmining. Marshall aid counterpart fuhds are equivalent amounts in the currency recipient countries, set aside and ‘ blocked” by those countries against dollar sums received from the United States. These sums can be snent only with the approval of the E.C.A.
also had rejected German proposals for the retention of reparations equipment at two former aircraft factories in Einswarden and Lemwerder, the dismantling of which would be resumed in the New Year.
The Government of Lower Saxony to-day said that it was “reluctant to believe” that the latest Allied decisions were the final word and would consult* the West German Federal Government.
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Bibliographic details
Press, Volume LXXXV, Issue 25996, 27 December 1949, Page 5
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161WEST GERMAN INDUSTRY Press, Volume LXXXV, Issue 25996, 27 December 1949, Page 5
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