825.51/7–2445: Telegram

The Acting Secretary of State to the Ambassador in Chile (Bowers)

607. For confidential info of Emb, Board of Trustees of Eximbank considered request of Corporacion de Fomento for financial assistance for construction of the steel mill. Chairman of the Board,60 at suggestion of Dept of Commerce, requested that decision on this project be deferred until subsequent meeting of Board without prejudice to project.

Sec of Commerce61 indicated he would be better satisfied if Chileans would make up comprehensive plan for economic expansion and would determine their overall need for foreign credit instead of making piecemeal approach. As result Bank will again request Chileans to prepare such a plan.

  1. Leo T. Crowley.
  2. Henry A. Wallace.