833.51/937: Telegram
The Secretary of State to the Minister in Uruguay ( Wilson )
159. Your 301, December 12, 11 a.m. The Export-Import Bank on Monday approved the extension of the credit of $5,000,000 to the Bank of the Republic mentioned in the Department’s no. 143, November 16, 3 p.m.,34 and in addition a credit of $2,500,000 to be expended by the Uruguayan Government in individual projects subject to the specific approval of the Export-Import Bank. The Bank is discussing the terms of these arrangements with the Uruguayan Minister, and has suggested that the $2,500,000 loan be made to the Bank of the Republic with the Government’s guarantee. Both credits will be amortized over a period of 6 years.
The Department has brought to the attention of the Export-Import Bank the considerations which you have raised regarding equipment for the Rio Negro hydrographic project, and the Bank will be guided by them in granting its approval to specific projects.
- Not printed.↩