Word: eca
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Dates: during 1950-1959
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...agency would coordinate the rearmament output of the twelve NATO members. Little progress had been made to date on standardization of equipment. The U.S. would be represented on this board by William L. Batt, a veteran World War II production man, former president of the S.K.F. Industries and present ECA chief in London...
...starter, Connie Hilton last week planted the flag of his empire firmly atop Monte Mario, one of the seven hills of ancient Rome. There, financed by the Italian government with an assist from ECA, a new $6,000,000 hotel with 400 rooms will be built. When it is finished in the spring of 1953, Hilton will put between $300,000 and $400,000 in as working capital, and operate it under a 20-year lease. He will turn over 70% of the profits to the Italian owners, keep a tidy 30% for himself. In similar deals, Hilton intends...
...long last, Francisco Franco of Spain got the EGA loan he had been seeking. With the air of a man holding his nose and obeying an unpleasant command, ECA announced that it would begin "immediately" to channel to Spanish industries and companies the $62.5 million in ECA funds set aside for Spain by the 81st Congress. Able no longer to ignore the will of Congress, despite its own contempt for the Franco dictatorship, the Administration did its best to make it look as unlike a Marshall Plan project as possible. ECA would send no mission to Madrid, would leave...
...Europe except the Soviet Union and . . . these forces constitute an important element in the defense of Western Europe against Soviet aggression." The President wanted Congress, when it reconvened Nov. 27, to approve emergency funds to feed the drought-stricken Yugoslavs. As a stopgap until Congress took up the matter, ECA had already diverted $11,500,000 worth of flour from its Italian and German stocks. The Export-Import Bank rushed off a quick $6,000,000 for drought relief out of the $55 million in U.S. credits already granted to Tito. The first U.S. relief shipment arrived in Yugoslavia last...
...Paul G. Hoffman resigned as ECA director to become president...