Editorial Note
On September 16, 1953, the Export-Import Bank authorized an increase of $2,280,000 in a previous credit of $2,720,000 extended to the Republic of Ecuador in 1947 to assist in financing the cost of completing the Quevedo–Manta Highway. For additional information, see Export-Import Bank of Washington, Seventeenth Semiannual Report to Congress for the Period July–December 1953 (Washington, 1954), pages 11–12.
In December 1953, out of a commitment of $7 million made to the Republic of Ecuador in 1949 to finance earthquake reconstruction, the Export-Import Bank allocated $1,500,000 to assist in financing improvements in airport facilities at Quito and Guayaquil. This allocation, together with a previous credit of $1 million for airport development extended to Ecuador in 1951, made available the sum of $2,500,000 for airport expansion in Ecuador. For additional information, see ibid., page 14.
On February 10, 1954, the International Bank for Reconstruction and Development approved an $8,500,000 loan to the Comite Ejecutivo de Vialidad de la Provincia del Guayas to meet the foreign [Page 993] exchange costs of a highway construction program in the Province of Guayas. For further information, see International Bank for Reconstruction and Development, Ninth Annual Report to the Board of Governors 1953–1954 (Washington, 1954).
On June 24, 1954, the Export-Import Bank authorized an increase of $3,650,000 in a $4 million line of credit originally approved in 1942 to assist in financing the construction of a water supply project for the municipality of Quito. For additional information, see Export-Import Bank, Eighteenth Semiannual Report to Congress for the Period January–June 1954 (Washington, 1954), pages 13–14.