Office of the Historian

408. Unofficial Record of Discussion at the AID Executive Staff Meeting, April 51

April 5, 1962
[Facsimile Page 1]

ATTENDEES

  • Mr. Hamilton
  • Mr. Lingle
  • Mr. Coffin
  • Mr. Gaud
  • Mr. Hutchinson
  • Mr. Janow
  • Mr. Moscoso
  • Mr. Rubin
  • Dr. Chenery
  • Mr. Waters
  • Mr. Kaplan
  • Mr. Davis
  • Mr. Salter
  • Mr. Roberts
  • Dr. Ruffner
  • Dr. Fei
  • Mr. Alpart
  • Mr. Vance
  • Mr. Woods
  • Mr. Bayley
  • Mr. Fowler
  • Mr. Ide
  • Mr. Shooshan
  • Mr. Sternfeld
  • Mr. Wilkins
  • Mr. Ellis
  • Mr. Vagliano
  • Mr. DeAngelis
  • Mr. Easum

1. Development Loan Terms

The staff discussed the revised paper on Dollar Repayable Development Loan Terms [ES/D–26 (Revised)] which reflected the views of the staff at the April 5 meeting. It was noted that two countries in Latin America have not been classified as yet. Syria which erroneously appears in two categories in the paper, should be listed under the unclassified country category. The staff approved the terms set forth in the paper.

There then followed a discussion of the steps to be taken to inform the White House, the Development Loan Committee, and the NAC. Mr. Coffin was asked to take the necessary steps to accomplish this.

ACTION: Mr. Coffin

Mr. Hamilton asked whether there should be a policy paper issued on the extent of AID involvement, if any, in private investment in developing countries both to be sure that we are not supplanting private capital, and also to be sure that the terms do not put too heavy a drain on their foreign exchange. Mr. Lingle said this should be put on the list of policy issues as a possible subject for clarification.

ACTION: Mr. Shooshan

Mr. Hamilton asked Mr. Rubin to look into the scope of the NAC jurisdiction over our development lending activities.

ACTION: Mr. Rubin

  1. “Development Loan Terms.” Official Use Only. 1 p. Washington National Records Center, RG 286, AID Administrator Files: FRC 65 A 481, Development Financing, FY 1962.↩