RUSSIA AND GERMANY
PURCHASES BY THE SOVIET. BERLIN, June 30 The long delayed agreement has been concluded by which a syndicate of German banks will finance the Soviet’s purchases of factory equipment and vehicles from Uermany 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 Russo-German economic relations. In accordance with the treaty the Government undertook to guarantee 35 per cent, of the credits and the State Governments a further 30 per cent. The Soviet refused a first offer involving 11 per cent, interest. The banks then agreed to advance 150,000,000 marks at 9J per cent, the Gov. eminent at the last minute offering the 35 per cent, guarantee.
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Otago Witness, Issue 3773, 6 July 1926, Page 30
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129RUSSIA AND GERMANY Otago Witness, Issue 3773, 6 July 1926, Page 30
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