U.S. FOREIGN AID
Huge Total Last Year (Rec. 8 p.m.) WASHINGTON, Oct. 21. The Department of Commerce reported today that United States military and economic foreign aid in the financial year ended June 30, 1952, totalled 5,000,000,000 dollars. This brought the gross total of such assistance in the two years since the outbreak of the Korean war to 9,800,000,000 dollars. Net foreign aid in this period was almost 9,000,000,000 dollars, the difference being represented by “return aid” to the United States such as foreign currencies made available without cost to the United States by ihe recipients of grants and the collection of interest on loans and war account settlements.
Military aid from the United States to the non-Communist world, rose rapidly after the invasion of South Korea accounting for 38 per cent, of gross foreign aid in the 1951 financial year, compared with 24 per cent, for 1952.
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Press, Volume LXXXVIII, Issue 26869, 23 October 1952, Page 9
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148U.S. FOREIGN AID Press, Volume LXXXVIII, Issue 26869, 23 October 1952, Page 9
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