PE–45. Editorial Note
A study mission, consisting of Vance Brand, Managing Director, Development Loan Fund; Hawthorne Arey, Director, Export-Import Bank of Washington; John W. Johnston, Jr., Deputy Regional Director for Latin America, International Cooperation Administration; and Theodore C. Achilles, Counselor of the Department of State, visited Peru in mid-July to consider Peruvian loan applications for jungle colonization and low-cost housing. They met with President Prado, Prime Minister Beltrán, Cabinet Ministers, and other Peruvian officials. In telegram 41 from Lima, July 16, they recommended $50 million credit for Peru divided equally between the Development Loan Fund and the Export-Import Bank. (723.5–MSP/7–1660) On July 28, the White House announced approval of $28.2 million credit by the Export-Import Bank of Washington and $25 million credit by the Development Loan Fund to Peru for settlement of [Typeset Page 1128] the upper selva region east of the Andes. According to the White House statement, these credits along with the credit agreement of July 13 for $2 million from the Development Loan Fund for the Peruvian Mutual Savings and Loan Association, brought the total recent United States credits for Peruvian Land settlement and housing to the equivalent of more than 1.5 billion Peruvian soles. For the text of a statement issued at Denver by President Eisenhower, July 28, on the development program for Peru, see Public Papers of the Presidents of the United States: Dwight D. Eisenhower, 1960–61 (Washington, 1961), page 606.