Word: lent
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Under McNamara, the World Bank embarked on an ambitious program to increase lending commitments to $30 billion by 1985. Last year the bank lent over $12 billion, up from $1 billion in 1968, when McNamara was appointed president. In an emotional farewell speech to the bank's annual meeting last month, McNamara defended often unpopular foreign aid to underdeveloped countries. Said he: "Investment in the human potential of the poor is not only morally right, it's very sound economics...
Even as hopes for an early cessation of hostilities faded, so did fears that the conflagration could spread to neighboring Arab gulf states or even escalate into a confrontation between the superpowers. Responding to Saudi Arabia's fears of possible spillover attacks against Middle East oilfields, the U.S. lent Riyadh four AWAC (Airborne Warning and Control System) electronic-surveillance planes. Mindful that Iran might misinterpret the gesture as an act of pro-Iraqi collusion, Muskie wrote a letter to Banisadr re-emphasizing U.S. neutrality. Indeed, Iran promptly denounced the action as "provocative." As usual, it did not help...
Within 24 hours of his own appointment by the junta, the new Prime Minister, Bülent Ulusu, 57, a retired admiral, presented a "nonpolitical," 27-member cabinet that gave the seven key ministries to retired army officers. However, Economist Turgut Ozal, author of an austerity program that deposed Prime Minister Süleyman Demirel had pushed through parliament earlier this year, was named Deputy Prime Minister. It was a clear sign that the military intends to give the ailing Turkish economy top priority...
...commandos chatted idly outside Istanbul's Blue Mosque. Otherwise, the armed forces tried to keep discreetly out of sight as much as possible. Along the 300-mile road between Istanbul and Ankara, foreigners found few troops in evidence. Both deposed Prime Minister Demirel and Opposition Leader Bülent Ecevit remained under detention at a military resort hotel in Hamzaköy, near Gallipoli. They could receive telephone calls but refused to talk politics. Ecevit told one caller: "I'm sorry, the general in charge here has asked me not to discuss the present situation...
...politicians who were approached were said to be reluctant to join the government at a time when more than 50 members of parliament were being held in "protective custody." Late last week the military chose one of its own to be the new Prime Minister. He is Bülent Ulusu, 57, a former admiral and retired chief of the Turkish navy. Ulusu, who was not involved in the coup, was chosen over two other contenders, Gen. Haydar Saltik, a member of the ruling council, and Zayyat Baykara, a former senator...