24. Editorial Note

The fourth meeting of the India consortium, organized by the International Bank for Reconstruction and Development, reconvened in Washington on May 31, 1961. The meeting concluded on June 2, and the Bank issued a press release that indicated that members of the consortium had agreed to undertake commitments of aid to India totaling over $2 billion. The commitments covered fiscal years 1961/62 and 1962/63, the first 2 years of the third Indian 5-year plan for economic development. [Page 52]Contributing members of the consortium included Canada, France, Germany, Japan, the United Kingdom, the United States, the International Bank for Reconstruction and Development, and the International Development Association. A total of $2,225,000,000 was pledged by the members of the consortium. The U.S. commitment for the 2-year period was $1,045,000,000, including $45 million in loans made after January 15, 1961, by the Export-Import Bank and the Development Loan Fund. In addition, the United States agreed to assist India by making available surplus commodities in the amount of approximately $1,300,000,000. (Kennedy Library, National Security Files, Countries Series, India, General, 5/1/61-6/15/61)