WORLD BANK LOAN
REHABILITATION OF PERSIA SUPPORT FROM AMERICA Rec. 9.30 p.m. WASHINGTON, June 10. The United States Government will support Persia’s application for a reconstruction and development loan from the World Bank. Persia has applied for 250,000,000 dollars, and it is expected that the bank will grant the full amount. Persian Embassy officials emphasise that the loan was not comparable with United States aid to Greece and Turkey, since loans from the World Bank could not be spent on military materials. The money would be used to build roads* and railways and buy farm and factory machinery. An agreement by which the United States will turn over to the Persian Army and police approximately 30,000,000 dollars’ worth of military supplies, including medicine, clothing, blankets, aircraft, and light tanks, will be signed in Washington this week. All supplies will come from war surplus stocks. The exact terms of the agreement are not known, but Reuter understands that the United States Foreign Liquidation Commission will extend the credit, repayable over a number of years. The agreement will be subject to ratification by the Persian Parliament.
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Bibliographic details
Otago Daily Times, Issue 26485, 12 June 1947, Page 5
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184WORLD BANK LOAN Otago Daily Times, Issue 26485, 12 June 1947, Page 5
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