Office of the Historian

867.51/11–2647: Telegram

The Acting Secretary of State to the Embassy in Turkey

restricted
Washington, November 26, 1947—7 p. m.

675. Board Directors Eximbank Nov 26 approved credit Turk Govt $8 million to finance conversion six cargo passenger ships purchased from Maritime Commission.

Turk Govt to pay Maritime about $2,720,000 for purchase six vessels. Conversion cost estimated $8 million for which credit approved is to be repaid over period 7 years and to be guaranteed by Turk Govt with such additional security by way of lien on each vessel that may be practicable or desirable. Interest 3½ percent.1

Lovett
  1. Telegram 685, December 2, 7 p. m., to Ankara noted that the $8,000,000 credit was in addition to the $25,000,000 line of credit approved in July 1946 (867.51/11–2947).↩