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Cooley loans of localcurrencies -. hlp finance private enterpriseprojects such as this industrialcomplex -~i "" . x"..J "'"" -,N'. ,loans uthern o Tuirkey. apinrovted.nctre star19f5the In 1965, 38 to private business firms were Cooley loan program, 356 loans in -2 5 countries have been approved in the dollar equivalent of nearly $300 *~ . million. Loans to Private Enterprise the beginning of the Cooley loan program, 356 loans have been made to private business firms in 25 countries Section 104(e) provides that title I sales proceeds be in the dollar equivalent of $298.7 million. made available to the maximum usable extent for loans These loans were made for such varied activities as the to (1) U.S. firms or their branches, subsidiaries, or affili- production of cement in Bolivia, wire ropes in Colombia, ates for business development and trade expansion in the chemicals and tractor parts in India, paper board in foreign country; or (2) either U.S. firms or firms of that Israel, livestock vitamins in Korea, food products in country for expanding markets for, and consumption of, Pakistan, jute products in Peru, poultry in the Philip- U.S. agricultural products abroad. pines, steel in Turkey, and the establishment of a small The law prohibits loans if they would finance the pro- business investment company in Tunisia. duction of commodities which would compete with U.S. sales, here or abroad. Loans are repayable in the foreign As of Deceber, 31, 1965, applications were being currency of the host country. Interest rates are similar accepted for loans in the currencies of Bolivia, China to those charged for comparable loans in the foreign (Taiwan), Congo (Leopoldville), Cyprusa,Ethiopia, country. Guinea, India, Iran, Israel, Ivory Coast, Korea, Mo- As of December 31, 1965, $156.2 million were available rocco, Pakistan, Paraguay, Senegal, Sudan, Tunisia, for loan. During the reporting period, AID approved Turkey, Ceylon, Greece, and the UAR (Egypt). 38 loans in 13 countries in an amount of foreign cur- Approved foreign currency loans to private enterprise rencies equivalent to approximately $35 million. Since appear in tables XII and XIII. 41
Payment of U.S. Obligations Sales agreements signed during 1965 provided that foreign currencies equivalent to $65 million be made available for payment of U.S. obligations under section 104(f) and for other U.S. uses under section 104 (a), (b), (d), (f), and (h) through (r). U.S. agencies requiring foreign currencies for tile payment of U.S. obligations abroad under any of these sections purchase them with appropriated dollars from the Treasury through the U.S. disbursing officers in the embassies. The dollars derived from fhese sales are TABLE XIi.-Foreign currencies set aside for sec. 104(e) loans to private business firms in agreements signed in 1965 Country Percentage of proceeds Amount agreement Thousand dollar equivalent Africa: Mali ----------------------- 15 87 Morocco -------------------- 10 945 Tunisia ---------------------- 0 1,469 Near East and South Asia: India__ 5 10,262 Far East and Pacific: Philippines- 10 1,257 Latin Americavia 42 Chile ----------------------- 15 2,963 191 - -- Total ------------------------------ 17,174 TABLE XIi.-Section 104(e) loans to private business firms approved in 1965 Country Number of Amount Bolivia--------------------- 2 1,125,000 China (Taiwan) -------------- 2 341,000 Colombia------------------- Finland --------------- 23 1,320,000 395,000 Greece --------------------- 1 250,000 India ----------------------- 10 18,421,000 Israel ---------------------- 4 1,446,333 Korea ---------------------- 2 160,619 Pakistan -------------------- 4 2,026,500 Peru ----------------------- 2 629,370 Philippines------------------ 2 630,000 Tunisia --------------------- 1 60,000 Turkey---------------------- 3 8,623,000 Total ----------------- 38 35,427,822 credited to the Commodity Credit Corporation. Through June 30, 1965, the Bureau of the Budget allocated to Treasury for sale, for any purpose, the currency equivalent of $2,042 million calculated import collection rates. Of this amount approximately at $1,293 million was sold, and the CCC was reimbursed to the extent of $1,103 million. Currency that cost $1,293 million was sold for $1,103 million because the actual market rate at which it was sold was generally lower than the import collection rate. Transactions under the military family housing programs are not included in these calculations.
Page 1 and 2: owl. ------------ FOOD FOR PEACE 19
Page 3 and 4: This is a world problem. The stakes
Page 5 and 6: THE ANNUAL REPORT OF THE PRESIDENT
Page 7 and 8: 6 CON TENTS-Continued Purchase of g
Page 9 and 10: AGRICULTURAL TRADE DEVELOPMENT AND
Page 12 and 13: SUMMARY AND HIGHLIGHTS Increasing n
Page 14 and 15: TABLE I.-Authorizations: Titles I a
Page 16 and 17: A A " 9 I -4C tf
Page 18 and 19: ecipient governments can apply to e
Page 20 and 21: TABLE Ill.-Major commodity exports
Page 22 and 23: TITLE I SALES FOR FOREIGN CURRENCY
Page 24 and 25: 100 80 Shipments-by Commodity S..-W
Page 26 and 27: 600 400- The Relationship MILLIONS
Page 28 and 29: the Act (country uses) are availabl
Page 30 and 31: TABLE VII.-Status of foreign curren
Page 32 and 33: Status and Uses of Foreign Currency
Page 34 and 35: U.S. strawberriesscore a hit in Eur
Page 36 and 37: A British housewife samples America
Page 38 and 39: Utilization Research Awards of gran
Page 40 and 41: date, and ao budget requests have b
Page 44 and 45: U.S. Information Agency Programs Si
Page 46 and 47: "Electricity in the Home, on the I'
Page 48 and 49: To assist in correcting inadequacie
Page 50 and 51: TABLE XV.-Loans for economic develo
Page 52 and 53: TABLE XV.-Programs administered by
Page 54 and 55: vided international travel for Amer
Page 56 and 57: During the reporting period the equ
Page 58 and 59: hybrid material resistant to diseas
Page 60 and 61: esearch, to conduct or attend semin
Page 62 and 63: translation of educational material
Page 64 and 65: India. Activities include the prepa
Page 66 and 67: (5-324 0 ----- In 1965for the first
Page 68 and 69: TABLE XXVI.-U.S. Government buildin
Page 70 and 71: Israel ($18,0OO).-New York Universi
Page 72 and 73: FOREIGN DONATIONS PROGRAMS American
Page 74 and 75: Dike construction in Korea. Self-he
Page 76 and 77: (A I El Salvador-Earthquake relief.
Page 78 and 79: - Voluntary organization works prog
Page 80 and 81: 'a Hog & feed grain production-Chej
Page 82 and 83: British Guiana-School feeding, mate
Page 84 and 85: World Food Program The World Food P
Page 86 and 87: Cambodia-Employing 3,000 workers --
Page 88 and 89: 00 Indonesia-Rehabilitation after v
Page 90 and 91: Sudan-Afforestation-Bahr El Ghazal
Page 92 and 93:
Zambia-Training and maintenance of
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FOREIGN DONATIONS PROGRAMS These em
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During 1965, 2.4 billion pounds of
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normally approved by a prompt cable
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A ,A These Chilean students are amo
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At a refugee camp inSouth Vietnam,
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to 18.9 million in the previous yea
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BARTER OPERATIONS emergency stockpi
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TABLE XXXV.-Value of materials, equ
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TITLE IV LONG-TERM DOLLAR CREDIT SA
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a solid food and agriculture base f
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Countries buying commodities fff ti
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116 TITLE II.-FOREIGN DONATIONS Pur
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Summary of 1965 Amendments Affectin
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TABLE 2.-Public Law 480 exports, qu
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.. TABLE 4.-Dollar value of commodi
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TABLE 4.-Dollar value of commoditie
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TABLE 5.-Dollar value of commoditie
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SBarley............................
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TABLE 7.-Approximate quantities of
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oBarley. C ri . Total..............
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TABLE 10.--Uses of foreign currency
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TABLE 11.-Uses of foreign currency
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TABLE 13.-Status of foreign currenc
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TABLE 15.-Title I, Public Law 480,
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TABLE 16.-Title II, Public Law 480,
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TABLE 24.-Title III, Public Law 480
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Area and country TABLE 24.-Title II
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TABLE 25.-Title III, value of mater
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TABLE 26.-Title 1l1,materials, equi
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TABLE 26.-Title III, materials, equ
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TABLE 27.-Title III, value of agric
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TABLE 29.-Dollar value of commoditi
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TABLE 3 3.-Approximate quantities o
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TABLE 3 4 .- Approximate quantities
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TABLE 36.-Title IV, Public Law 480,
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