Dollar Loan To Indonesia
(N.Z. Press Association—Copyright) WASHINGTON, May 1. The United States yesterday granted revolt-torn Indonesia a 15 million dollar loan and promised 77 million dollars more for development purposes. The International Co-operation Administration, the foreign aid agency, also announced two other loan agreements today, for 2.500,000 dollars each for Libya and Ceylon. Indonesia agreed to repay the 15 million dollars over 40 years, with interest at 4 per cent, if the repayment is in Indonesian currency and 3 per cent, if in dollars. The United States is prepared to lend Indonesia about 77 million dollars in Indonesian currency still held by the United States from Indonesia’s purchase of 97 million dollars’ worth of United States surplus farm commodities last year. These funds would be used to finance economic development projects.
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Press, Volume XCV, Issue 28267, 3 May 1957, Page 12
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132Dollar Loan To Indonesia Press, Volume XCV, Issue 28267, 3 May 1957, Page 12
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