821.51 Cooperation Program/6a: Telegram

The Secretary of State to the Ambassador in Colombia ( Braden )

138. Conversations have taken place between the Export-Import Bank, the Department and Ambassador Turbay regarding the Colombian request for additional credits. The Bank has already offered to increase the credit to $10,000,000 and the Department continues to press for $12,000,000. The matter should be clarified within a few days.

The Colombian request included 2 million Colombian pesos for the stabilization fund. The Department, the Export-Import Bank, and the Treasury believe that this is a proper matter for discussion with the Treasury Department, and Ambassador Turbay has been informed of this opinion. He has stated that he would consult his Government for instructions whether to proceed with stabilization discussions with the Treasury Department.