U.S. offers fresh economic aid

The aid climate showed signs of distinct improvement with the announcement here [New Delhi] to-day [December 19] that the United States would sign aid agreements with India in the next few days for $231 million of project and non-project aid, and $167 million of food aid. At the same time, there were indications that Britain would make a special contribution to the International Development Association, as Canada and some European countries had done in response to Mr. Robert McNamara’s appeal, to enable the I.D.A. to resume lending to India. The U.S. Ambassador, Mr. Chester Bowles who announced the impending American aid, said it would amount to $398 million (Rs. 298.5 crores), out of which $194 million (Rs. 145.5 crores) will be non-project aid to finance imports of fertilizers and industrial raw materials and spare parts and $37 million (Rs. 27.75 crores) as project aid for the expansion of the Trombay fertilizer plant.

Source : https://www.thehindu.com/todays-paper/tp-opinion/us-offers-fresh-economic-aid/article25785542.ece

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