GERMANY AND RUSSIA
TRADE AGREEMENT SIGNED
FINANCING SOVIET PURCHASES,
(United Press Association.—Copyright.) (Sydney Sun Cable.)
BERLIN, 30th June.
A long-delayed agreement has ■ been concluded whereby a syndicate of German banks will finance the Soviet's million marks purchases of factory equipment and vehicles from Germany for four years.
Herr Curtius, ■ Minister of Economic Affairs, told the Budget Committee that a scheme had been worked out to improve the marketing conditions in Germany and consolidate Busso-Ger-man economic relations. In accordance with the treaty the Government undertook to guarantee 35 per cent, of tho credits, and the States Governments a further 25 per cent. The Soviet refused the first offer, involving 11 per cent, interest. The banks havo now agreed to advance 150 million marks at 9i per eent.,the Government at the last minute offering the 35 per cent, guarantee.
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Bibliographic details
Evening Post, Volume CXII, Issue 2, 2 July 1926, Page 7
Word Count
137GERMANY AND RUSSIA Evening Post, Volume CXII, Issue 2, 2 July 1926, Page 7
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