EC–2. Editorial Note
In airgram A–119 to Quito, February 20, 1958, the Department of State instructed the Embassy to negotiate the sale to Ecuador of United States agricultural commodities valued at $1.7 million, including 50 percent of transportation costs. The Department also sent a draft sales agreement under provision of Title I of Public Law 480 (68 Stat. 454) with this instruction. (411.2241/2–2058) Representatives of the United States and Ecuador signed a $1.84 million Surplus Agricultural Commodities Agreement in Quito on June 30, 1958. For the text of the agreement, see United States Treaties and Other International Agreements (UST), volume 9, page 1192. The agreement was extended and amended on December 12, 1958, and March 9, 1959. For the texts of the extensions and amendments, see 10 UST 34 and 725.
In airgram A–124 to Quito, April 28, 1960, the Department of State instructed the Embassy to negotiate the sale of $1 million worth of agricultural commodities, including transportation costs to Ecuador. (411.2241/4–2860) On September 27 representatives of Ecuador and the United States signed at Quito a surplus agricultural commodities agreement under which Ecuador would purchase for sucres $1 million worth of edible oils, including transportation costs. The United States would lend Ecuador one-half of the proceeds for economic development; one-quarter would be designated for United States Government expenses in Ecuador; and one-quarter would be for “Cooley Amendment” loans for private investment in Ecuador through the Export-Import Bank. For the text of the agreement, see 11 UST (pt. 2) 2427. For text of the Cooley amendment, Section 104(e) of Public Law 480, see 7, Stat. 345.