822.50/99: Telegram
The Secretary of State to the Ambassador in Ecuador (Long)
536. Your 601, July 23, 3 p.m.58 It will be impossible for the Export-Import Bank to advance any funds at present for emergency work on the waterworks since there as yet is no signed agreement between the Bank and the Republic. Furthermore, the Bank’s studies have not yet reached a point where it is prepared to commit itself on any specific program. Any program which the Coordinator59 might wish to undertake with his own funds would be a matter for him to decide on the basis of his own reports and after consultation with the Department.
As stated above the Bank is not prepared to consider advancing any funds until its studies have been completed and an agreement signed. Hence any acquisition of material or options for material and equipment would have to be purely on the responsibility of the Coordinator’s people or the Republic without any obligation or approval on the part of the Bank or the Department.