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United States Department of State / Foreign relations of the United States, 1951. The Near East and Africa
(1951)

The Near and Middle East: multilateral relations,   pp. 1-342 PDF (132.2 MB)


Page 70


FOREIGN RELATIONS, 1951, VOLUME V
  on a project basis that minimizes the dollar component and maximizes
  technical assistance components to countries best able to pay or borrow.
  B. Recommendations
    1. In Greece, economic aid should continue substantially as at
  present, and should not be reduced below a level which could, through
  inflation, result in the loss of economic stability which has been
  achieved to date under the aid program, or hazard the attainment of
  hard-core economic goals. It is expected that the need for such aid
  will continue at least through 1954.
    2. Economic aid to Turkey should be continued within the general
  framework of present policies, with emphasis on support of the mili-
  tary effort, on short-term as against long-term economic goals, and
  on countering inflationary forces.
    3. A program of giant aid for economic development should be
 undertaken in the Near East and Iran as an essential supplement to
 loan assistance and local governmental funds.
   4. Loan assistance in general should be given first priority where
 the project and country qualify and the time factor is not important.
 Loans should in many cases follow grants, which can get under way
 quickly and can provide more favorable bases for loans. Any tendency
 on the part of the governments of the Middle East to resist legitimate
 loan opportunities for grants should be opposed.
   5. An integrated assistance program, whether loan, grant, or tech-
 nical aid, should be worked out for each country, taking into account
 its special circumstances. Coordination among all agencies given assist-
 ance, whether governmental, international or private, is essential.
   6. In extending grant aid, even though modest in volume, emphasis
should be placed on technical assistance as the best form of economic
stimulation for underdeveloped areas.
   7. The procedures of the Export-Import Bank and the Interna-
 tional Bank should be simplified in the interest of effectiveness and
 speed, and adapted to the particular problems of the underdeveloped
 countries.
   8. Procedures relating to the extension of grant aid, particularly
 technical assistance under the Point Four program, should be simpli-
 fied to permit implementation on a rapid, emergency basis as required.
                                X
APPRAISAL OF POLICIES OF FOREIGN OIL COMPANIES IN THE MIDDLE EAST7
       IN RELATION TO UNITED STATES POLICIES AND INTERESTS
A. Conclusions
  1. The Conference reviewed the operation of foreign oil companies
in the Middle East in the light of the fact that oil is the most im-
portant single factor in United States relations with the area. Eco-
70


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