Word: loans
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Dates: during 1950-1959
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Dangling Offer. Seven months ago the U.S. offered Egypt a preliminary $56 million loan to start construction at Aswan. Aided by Britain ($14 million) and the World Bank ($200 million), the U.S. was willing to supply the major part of the capital to finish the mighty three-mile dam. But the offer was left dangling. Nasser, who had mortgaged $200 million worth of cotton not yet planted as barter for Czechoslovakian weapons, occupied himself by recognizing Red China and by planning a trip to Moscow. And when Soviet Minister Dmitri Shepilov visited Cairo last month, Nasser's spokesman whispered...
...misunderstanding of U.S. feeling, the President transferred able U.S. Ambassador Henry Byroade, who had been involved in the earlier offers to Nasser, to South Africa, replaced him by uncommitted Raymond A. Hare (see Foreign Relations). From London quickly came an official announcement that offers for the Anglo-Egyptian loan likewise were being canceled and private comments that Britain would not feel amiss if Nasser's debacle resulted in his downfall...
...hearty approval in Congress, where cotton-state legislators are nervous about cotton-growing Egypt and where Zionist spokesmen have held Nasser to be the Middle East's archvillain. The Sen ate Appropriations Committee earlier had been so bold as to "order" Dulles not to make the Aswan loan from Mutual Security funds. Dulles firmly resisted such an unconstitutional demand. But the whole argument became academic when Dulles decided, for foreign policy reasons...
...create in India an ideological climate which may in time constitute Nehru's one great disservice to his country. Russian aid to India, which so far has consisted chiefly of a promise to build a 1,000,000-ton steel plant on an $80 million-$95 million loan, has been received with a fanfare of publicity. U.S. loans and gifts, which during the first five-year plan amounted to $538 million, have been accepted grudgingly. The posters everywhere greeting B. & K. with "India and Russia are brothers" were Nehru's doing. By this kind of "impartiality" Nehru...
FIRST PRIVATE LOAN for European Coal and Steel Community from U.S. bankers is coming. Six-nation group set up in 1952 to provide single production and selling group for coal and steel has asked three big U.S. investment houses (Kuhn, Loeb; First Boston; Lazard Frères) to help plan multimillion loan to modernize coal mines, coking plants, etc. Previously, Community borrowed $100 million from U.S. Export-Import Bank...