824.50/156
The Bolivian Ambassador (Guachalla) to the Secretary of State
Excellency: I have the honor to refer to the arrangements which are being made between Their Excellencies, Dr. Joaquín Espada, Minister of Finance of Bolivia, and Señor Alberto Crespo Gutiérrez, [Page 610] Minister of National Economy of Bolivia, and the Export-Import Bank of Washington for the establishment of the Corporación Boliviana de Fomento, and for the extension to the Corporación of a credit of $15,500,000 authorized by the said Export-Import Bank.
I am pleased to inform you that the draft of the proposed charter and by-laws of the Corporación Boliviana de Fomento has now been approved by the Bolivian Government in the form in which it was recently submitted to the Export-Import Bank of Washington. It is expected that this draft of the charter and by-laws will be adopted upon the establishment of the Corporación soon after the Ministers of Finance and National Economy return to La Paz.
The proposed agreement between the Republic of Bolivia and the Corporación Boliviana de Fomento84 has likewise been approved by the Bolivian Government. Moreover, the text of the proposed loan agreement between the Republic of Bolivia, the Corporación Boliviana de Fomento and the Export-Import Bank of Washington84 has been approved by the Minister of Finance and the Minister of National Economy. Both agreements will be submitted without change to the National Congress of Bolivia with a view to their prompt approval or ratification.
Accept [etc.]