837.51 Cooperation Program/153a: Telegram

The Acting Secretary of State to the Chargé in Cuba ( Briggs )

178. The agreement for the $25,000,000 credit56 by the Export-Import Bank, was signed at 5:45 p.m. by the Ambassador on behalf of the Republic, and Doctors López Castro and García Montes on behalf of the Commission; and by the President of the Export-Import Bank.

  1. The agreement, not printed, between the Export-Import Bank, the Republic of Cuba, and the Comisión de Fomento Nacional provided for a line of credit of $25,000,000, repayable in 30 installments semi-annually with interest at 4 percent. The loan was to be used for public works and agricultural projects. (837.51/2869)