Foreign Relations of the United States, 1946, General; the United Nations, Volume I

Department of State National Advisory Council Files

Memorandum by the Chairman of the Export-Import Bank (Crowley) to the National Advisory Council

secret
NAC–14

[Washington,] September 18, 1945.

1. I have circulated to the members of the National Advisory Council a memorandum dated September 17, 1945,²⁰ setting forth the present status of Lend-Lease and Export-Import Bank financing. It is urgent that action be taken by the Export-Import Bank with respect to some of the applications for credits which have been made in order that the flow of supplies and essential materials to those countries will not be interrupted.

2. I recommend that of the applications for credit set forth in my memorandum of September 17, 1945, the following be approved at this time:

(a) Belgium. $100,000,000, of which $55,000,000 should be extended on 3(c) terms and $45,000,000 on such other terms and conditions as may be agreed upon by the N.A.C. and the Export-Import Bank.

(b) France. $550,000,000 on 3(c) terms.

(c) The Netherlands. $100,000,000, of which $50,000,000 should be extended on 3(c) terms and $50,000,000 on such other terms and conditions as may be agreed upon by the N.A.C. and the Export-Import Bank.

(d) Netherlands East Indies. $100,000,000 on such terms and conditions as may be agreed upon by the N.A.C. and the Export-Import Bank.

(e) Russia. $1,000,000,000 on such terms and conditions as may be agreed upon by the N.A.C. and the Export-Import Bank.

20. Not printed. It was an earlier version of this document NAC–14.