Word: loaning
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Dates: during 1960-1969
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...today should have a social conscience." The Coop's financial structure puts severe limitations on any investments. Necessary expansion in the bookstore annex and the new Med School Coop have caused the Coop to be debt financed by the Harvard Trust Company. One of the terms of the present loan agreement is that, "The Company will not, directly or indirectly, make any investments in the stock, securities or other obligations of any other person, firm, or corporation." Thus, the Coop simply cannot invest in any other co-operative community venture...
Ford Foundation expects to get more than its money back in loan repayments, interest and stock dividends. Where will that money go? Back into other foundation work...
Deep as those cuts were, they were superficial compared to gouges made in other programs. For foreign aid, the House irresponsibly appropriated only $1.6 billion, lowest sum in the program's 21-year history and $1.3 billion less than President Johnson's bare-bones request. Development loan funds were hacked from the $765 million asked for by the Administration to only $265 million. The Alliance for Progress got only $290 million of a requested $625 million, which touched off bitter complaints all over Latin America...
...weighted according to subscriptions in the bank's capital stock; big members have sometimes irritated national pride by outvoting the numerical majority. McNamara met this problem by sounding out key directors before meetings, solving the objections that might prevent unanimous agreement. He has uncovered new sources of loan funds in such oil-rich countries as Saudi Arabia and Kuwait. He is already emphasizing the African and Latin American aid referred to in his speech. Last week the bank and its subsidiary, International Development Association, approved loans or credits totaling $25.1 million for roads, forestry projects and livestock programs...
Trickle in a Thaw. The first Russo-Japanese venture in Siberia is already under way. This summer Communists and capitalists after much dickering over terms signed an agreement under which Japanese banks will grant a $133 million, five-year loan at 5.8% to enable the Russians to develop Siberian timber cutting. In addition, a consortium of 13 Japanese companies, including such big trading firms as Mitsui and Mitsubishi, will be allowed to sell $30 million worth of consumer goods to Russian settlers in Siberia. As repayment of the loan and to cover its interest, the Russians over a five-year...