189. Letter From the Under Secretary of State for Economic Affairs (Dillon) to Acting Director of Central Intelligence Cabell0
Dear General Cabell: The Under Secretary has asked me to express our thanks for your helpful memorandum of September 15, 1958, concerning the Finnish economic situation. We fully agree with your assessment as to the seriousness of Finland’s current position. As you point out, it is clear that economic assistance would be of substantial and highly desirable benefit to Finland, the continued independence and western orientation of which are definitely in the interest of the United States.
You are well aware that we are confronted with immediate and, in many cases, new critical problems in other areas of the world. Because of the inescapable need to meet these problems, it is impossible to allocate any funds for Finland out of the Mutual Security Program at the present time.
There are, however, several other things which can be done regarding the Finnish case. In recognition of the clear need, we are considering the inclusion of money for Finland in a possible request for supplemental MSP funds when Congress convenes in January 1959. In addition, there is a good chance that we will be able to arrange a new local currency loan for Finland with funds generated by the PL 480 Program. Moreover, there is also the possibility of securing Export-Import Bank credits for Finland.
These possibilities are being actively explored at the present time and I believe that ultimately we will be able to develop an adequate program for Finland.
Sincerely yours,