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Document
#42; February 21, 1957
To Chester Bowles
Series:
EM, AWF, Name Series
The Papers of Dwight David Eisenhower, Volume
XVIII - The Presidency: Keeping the Peace
Part
I: A New Beginning, Old Problems; January 1957 to May 1957
Chapter
1: The Mideast and the Eisenhower Doctrine
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Dear Mr. Bowles:1 Thank you for your letter of January twenty-sixth on the problems facing India in carrying out its Second Five Year Plan for economic development. Having recently discussed these problems with Prime Minister Nehru in Washington, I was interested to receive your views on this situation.2
It has been, of course, our conclusion along the same lines which has led us to increase materially United States assistance to India over the past months. In addition to the technical and developmental aid programs with which you are familiar, we have recently concluded a Public Law 480 agreement with India on surplus agricultural commodities, valued at $360,000,000 which India may repay in local currency on easy terms over a long period.3 Further, in the same general pattern, we have also given our full support to India's request to draw up to $200,000,000 from the International Monetary Fund, the main burden of which transaction will rest ultimately on the United States. The question of whether we should do more to help India meet its needs is, of course, constantly under study.
I do agree with you that successful development is of great importance to India, not only for economic progress but for continued political stability.
With best wishes, Sincerely
Bibliographic reference to this document:
Eisenhower, Dwight D. To Chester Bowles,
21 February 1957.
In The Papers of Dwight David Eisenhower, ed. L. Galambos and D. van Ee, doc. 42.
World Wide Web facsimile by The Dwight D. Eisenhower Memorial
Commission of the print edition; Baltimore, MD: The Johns
Hopkins University Press, 1996, http://www.eisenhowermemorial.org/presidential-papers/second-term/documents/42.cfm
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