Operations of the Development Loan FundU.S. Government Printing Office, 1960 - 35 pages |
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$40 million 86th Congress advance allocations agencies amount Argentina basis Committee on Appropriations Committee on Foreign commodities Congress costs currency defense support Department Development Loan Fund disbursement DLF approval DLF Board DLF funds DLF loans DLF minutes DLF was established DLF's dollars economic development Emphasis supplied enterprise executive branch Export-Import Bank fiscal years 1958 Foreign Affairs foreign aid foreign exchange foreign policy GEORGE MEADER Government of India Hearings Honduras House Committee IBRD imports International Finance Corporation Iran Israeli pounds June 30 Lebanon lending less-developed countries line of credit loan agreements loans to India local currency ment Mutual Security Act Mutual Security Appropriations mutual security funds mutual security program practice of earmarking primary purpose procurement projects and programs projects or programs proposed Public Law 480 repayment Rept requested sectors Senate Committee Special Assistance specific projects steel technical tion United Washington World Bank
Popular passages
Page 6 - President shall take into account (1) whether financing could be obtained in whole or in part from other free- world sources on reasonable terms, (2) the economic and technical soundness of the activity to be financed, (3) whether the activity gives reasonable promise of contributing to the development of economic resources or to the increase of productive capacities in furtherance of the purposes of this title...
Page 6 - ... (2) the economic and technical soundness of the activity to be financed, (3) whether the activity gives reasonable promise of contributing to the development of economic resources or to the increase of productive capacities in furtherance of the purposes of this title, and (4) the possible adverse effects upon the economy of the United States, with special reference to areas of substantial labor surplus, of the activity and the financing operation or transaction involved.
Page 6 - ... to minimize or eliminate barriers to the flow of private investment capital and international trade; to facilitate the creation of a climate favorable to the investment of private capital ; and to assist, on a basis of selfhelp and mutual cooperation, the efforts of free peoples to develop their economic resources and to increase their productive capabilities.
Page 6 - Shortly thereafter, the Loan Committee, consisting of the Deputy Under Secretary of State for Economic Affairs, the Chairman of the Board of Directors of the Export-Import Bank, and the Director of the ICA, began to meet and a small, skeleton staff was assembled.
Page 8 - ... usually required by private capital and by the ExportImport Bank and the World Bank. The operating methods of the Development Loan Fund are desig-ned to promote efficient, long-term economic growth. Its financing is exclusively in the form of loans or other types of credit ; it does not make grants. It makes loans only for specific projects and there is a separate loan agreement on each project tailored to the specific situation. The Development Loan Fund does not program in advance annual levels...
Page 6 - Loans shall be made by the Fund only on the basis of firm commitments by the borrowers to make repayment and upon a finding that there are reasonable prospects of such repayment.
Page 32 - International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD, or World Bank).
Page 13 - ... aid required for such purpose makes possible of attainment. reasonable terms from other public or private free world sources. It will emphasize long-term results, rather than short-term Impact, and it will be furnished only In response to specific, fully justified applications for assistance which are submitted to the fund. Such aid will be extended only on a loan or other basis which does not involve grants or direct purchase of equity securities. The administrator of the fund will have wide...
Page 17 - We feel that by eliminating the fiscal year requirement we accomplish something that is most important: We get away totally from this business of advance allocations by countries. That has proved, I think, to be a very unsound and unsatisfactory method. I think all the studies that have been made of this general subject agree that that is something that, if we want to be businesslike, we have to get away from. The old approach makes us subject to political pressures, and we think this new approach...