The Department of State to the Brazilian Embassy
The Brazilian Embassy in its confidential memorandum no. 55/822.3(22) (42) of March 12, 1946,99 has outlined in general terms a comprehensive program of economic development which the Brazilian Government is now engaged in preparing, and has requested that preliminary consideration be given by the Department of State to the possibility of financial and technical assistance being obtained from the United States for the purpose of carrying this program into effect.
The United States Government is alive to the efforts of the Brazilian Government to strengthen the economic structure of Brazil and will be glad to give careful and sympathetic study to the plans for the realization of the Brazilian development program. The furnishing of financial assistance by this Government for the execution of such plans, however, would be subject to certain limitations which are set forth below.
The character and degree of assistance must, of course, take into account not only the specific needs and resources of Brazil and the equipment and technical skills in the United States that would be available for the purpose, but also the possibility of private financing, of financing through the International Bank, and to the extent that assistance from these two primary sources was insufficient, the amount of capital that could reasonably be employed for this program by the Export-Import Bank in view of the requirements of certain European countries for rehabilitation and the needs of the other American republics for development.
The United States Government will therefore await with interest the receipt from the Brazilian Government of the detailed plan.
- Not printed.↩