The Czechoslovak Ambassador ( Hurban ) to the Secretary of State

Excellency: I have the honor to inform Your Excellency that the Czechoslovak Government is preparing an extensive program of purchases in the United States of various raw materials, equipment and other products essential for the reconstruction and development of Czechoslovak industries which have heavily suffered during the period of occupation of the country by enemy armed forces and have also been partly damaged by military action during the war.

Not having sufficient resources at its disposal to finance these purchases, the Czechoslovak Government is seeking the assistance of the United States Government by applying for a loan covering the amount of these purchases in the United States.

The Czechoslovak Ambassador, acting upon instructions of his Government requests, therefore, herewith Your Excellency to inform the [Page 551] Administrator of the Foreign Economic Administration who is acting as Chairman of the Export-Import Bank of Washington that the Czechoslovak Government will submit to the Export-Import Bank a program for purchases, in the United States, amounting up to three hundred million United States dollars /$300,000,000.00/ and that the Czechoslovak Government will appreciate that pending the submittal of such detailed program of requirements, the aforementioned amount of $300,000,000.00 be set aside, by the Export-Import Bank from the capital at its disposal for lending purposes as loan to the Czechoslovak Government for its program of reconstruction purchases.10

The detailed program of requirements will be submitted as soon as the necessary investigation concerning the needs of the various branches of Czechoslovak industry will be terminated.

The Czechoslovak Ambassador holds himself at the disposal of the management of the Export-Import Bank of Washington for discussion of the conditions under which this loan may be granted to the Czechoslovak Government.

Accept [etc.]

V. S. Hurban
  1. In his note of September 17 to the Czechoslovak Ambassador, the Acting Secretary of State stated that he was informing the Foreign Economic Administrator or the desire of the Czechoslovak Government for a loan of $300 million from the Export-Import Bank (860F.51/9–145).