U.S. FOREIGN AID
Interest Rate Increased (N.Z.P.A.-Reuter—Copyright) WASHINGTON, July 26. The Senate yesterday imposed a further restriction on President Johnson’s foreign aid programme, fixing the interest rate on development loans at three instead of two and a half per cent. The increase had been recommended by the Senate Foreign Relations Committee against the objections of its chairman, Senator William Fulbright, who earlier supported a number of other restrictions as an expression of his disapproval of the administration’s Vietnam policy. The three per cent interest rate would become effective after the 10-year grace period which the United States grants on its development loans. Last week the Senate decided to increase the rate during the grace period from one to two per cent.
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Bibliographic details
Press, Volume CVI, Issue 31123, 28 July 1966, Page 5
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121U.S. FOREIGN AID Press, Volume CVI, Issue 31123, 28 July 1966, Page 5
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