To: Mohan Marette who wrote (9750 ) 11/23/1999 8:26:00 PM From: Mohan Marette Read Replies (1) | Respond to
Republican Senators Connie Mack & Brownback join campaign to free loans to India Two members of the US Senate, the far more powerful Upper House, have now joined the campaign to liberate World Bank assistance to Indian projects from the shackles of unilateral US sanctions. Republican Senators Sam Brownback and Connie Mack pointed out in a letter to the President that more than $1.23 b worth of loans for India were held up by the World Bank due to US opposition. The loans were critically needed by India to develop its infrastructure and to sustain economic activities in the rural areas. "While we understand that you may be deferring waiver of the international financial institutions loans pending further talks between the US and the Government of India with respect to non-proliferation issues, we do not believe that holding up World Bank loans will accomplish the Administration's goals," the letter said. "In view of the current situation in India, in which the newly elected democratic government has just taken office, and India's continuing cooperation and open dialogue with the US on a broad range of issues, we believe, it would be in the best national interest of the US to exercise the authority that Congress has provided you with. This is also to waive the US opposition to loans to India by international financial institutions." hindustantimes.com
