868.00/7–2147: Telegram
The Secretary of State to the American Mission for Aid to Greece
1148. Gama 26. For Griswold. Urtel 1188 Jul 21 Amag 15.1 Board Directors Eximbank considered advisability cancelling or suspending use of uncommitted portion of $25 million credit because of Congressional program for Greek assistance. Board decided not to cancel but to suspend further utilization credit except where funds had already been committed. When studies by Dept relating probable Greek requirements had been undertaken conclusions reached had been based on view that Eximbank funds from this credit would be available. Dept however regarded it as quite proper for Bank to delay moving further into Greek economic picture at present time. Until funds for Greece to be provided from other sources are exhausted Dept sees no reason why Bank should make available any further funds under this credit. Dept considers it most inopportune to request Bank to reconsider decision at this time.
- Not printed.↩