LOAN FOR JAPAN
PROPOSAL IN U.S. FUNDS FOR_PURCHASES BRITISH BANKS MAY HELP : NEW YORK, Dec. 11. Negotiations are in progress to extend substantial credit to Japan through Government and private agencies, according to Wall Street Journal which says that British and Indian banks may v join the arrangement while Australian and Dutch banks are showing some interest. The loan is estimated at 200,000,000 to 250,0000,000 dollars. Approximately 25 per cent will be advanced by the Export and Import Bank and the rest by other private sources. The loan would be used for the import of raw materials by Japan which are needed to produce export goods rind these would include wool, cotton, 'industrial- salt, woodpulp, rubber and some minerals. The chief United States export to be financed by this loan would be raw cotton. '■ The loan, which may be announced .by. the end of the year or early .in January will have Japanese backing of 140,000,000 dollars worth of gold and silver, which was formerly used to brick Japanese currency, j
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Bibliographic details
Gisborne Herald, Volume LXXIV, Issue 22510, 13 December 1947, Page 5
Word Count
171LOAN FOR JAPAN Gisborne Herald, Volume LXXIV, Issue 22510, 13 December 1947, Page 5
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