Word: loaned
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Dates: during 1990-1999
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...also began to push for loan guarantees from the Federal Export-Import Bank, which helps American companies sell products abroad by offering loan guarantees. Documents made public by Gonzalez show that in December 1983, Under Secretary of State Eagleburger wrote a secret letter urging bank chairman William Draper III to open a line of credit for Iraq, though most of the world's financial institutions had stopped lending to Baghdad and the Export-Import Bank's own analysts had concluded that Iraq could not be counted on to repay...
North Carolina Representative Charlie Rose, who chairs a House agriculture subcommittee, is looking into why the Agriculture Department's program, designed to help foreign nations purchase American farm goods, approved most of the loan guarantees. "These loans not only permitted Iraq to feed its people," complains another House Democrat, Henry Gonzalez of Texas, "they freed up scarce foreign exchange that was used by Iraq to build up its military arsenal...
...Administration's critics maintain that it was a sign of White House blindness that it continued to court Saddam even after evidence emerged in the BNL probe of substantial Iraqi misuse of the loan-guarantee program. This week Texas Democrat Jack Brooks, chairman of the House Judiciary Committee, will hold hearings on whether to call on the Justice Department to appoint a special prosecutor to determine if the Agriculture Department's program was improperly used...
...session. But Administration spokesmen have also denied they were subject to undue pressure to favor Iraq. The combative Gonzalez has moved to counter their claims by reading into the Congressional Record a cloak of secret documents, mostly concerning White House efforts to secure the loan guarantees, which have become the subject of lengthy examinations in the Los Angeles Times and other publications...
...moderate its own policies. In 1982, three years after Jimmy Carter placed Iraq on the State Department's list of nations supporting terrorism, Ronald Reagan removed Iraq from the list, reopening the way for U.S. aid. The Reagan Administration moved quickly to provide Iraq with over $400 million in loan guarantees to buy American grain...