6098 MILLION DOLLARS FOR FOREIGN AID

Grey River Argus, 3 April 1948, Page 5

6098 MILLION DOLLARS FOR FOREIGN AID

U.S. Congress Reaches Agreement

(Received April 2, 9.55, p.m.) WASHINGTON, April 2

The U.S. Senate and tne House of Representatives conference committee dealt with the 6,098 million dollars global foreign relief bill late last night. The committee approved or the measure on a compromise, whiun is expected to be quickly approved by ooth houses to-day.

The compromise provides for fiftythree to a nundred million dollars lor the first twelve months of the four and a quarter years' European recovery programme. There is 275 million dollars provided for military aid to Greece and Turkey. There is also 463 million dollars for aid to China over a twelve month period ,and sixty million dollars for rhe United Nations internation children’s emergency tund. The bill now authorises the U.S. Reconstruction Finance Corporation to make one thousand million dollars available immediately, through loans, to initiate the European recovery programme. Loans oi fifty millions are authorised to initiate the Greek. Turkish, and Chinese programmes. The Congress conference committee also agreed to direct the Administrator to discourage the participating European nations from shipping to Russia and her satellites commodities which the United States would not ship to them directly.