American Aid For Japanese Shipping
NZPA—Copyright TOKIO, Dec. 27,
General MacArthur today announced £8 600,000 United States assistance to Japan in rebuilding a merchant fleet. This amount will be released from the yen proceeds of the sale of United States aid supplies. Japan in 1950 will build new ships ;o tailing 275,000 tons, and convert 272 000 tons of non-standard vessels to ocean-going ships meeting the international standard. The United States aid will finance 50 per cent, of the new buildings, and TO per cent, of the cost of conversion of 29 old vessels. The announcement stated that the yen release was “part,of the general programme of rehabilitation of Japanese shipping in order to accomplish g reduction in the cost of imports.
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Otago Daily Times, Issue 27275, 29 December 1949, Page 5
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122American Aid For Japanese Shipping Otago Daily Times, Issue 27275, 29 December 1949, Page 5
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