Foreign Relations of the United States, 1947, The American Republics, Volume VIII

832.51/2–2047

Memorandum by the Chief of the Division of Brazilian Affairs (Dawson)¹⁵

[Washington,] February 20, 1947.

The Eximbank Board yesterday approved the $7,500,000 loan application of the Cia. Vale do Rio Doce. The loan would be fully guaranteed by the Brazilian Government and would be contingent upon Brazilian Congressional approval including appropriation of the $12,000,000 which the Brazilian Government is to put up, $400,000 a month.

BA’s memorandum of February 14¹⁶ routed to ED and OFD, concurred in by Messrs. Braden and Briggs, makes it clear that the appropriate political officers of the Department do not favor the granting of the loan/Whether this was brought to Mr. Clayton’s attention before the meeting of the Eximbank Board I do not know.¹⁷

Allan Dawson

15. Addressed to Messrs. Smith, Wright, and Braden, of A–Br, and to Mr. Briggs of ARA.
16. Not printed.
17. A notation in the margin reads: “I don’t know definitely, but I am informed that he felt sure enough of the feasibility of the project to warrant giving his OK. H. G. S[mith].”