U.S. Offers $600 Million to Clear Debt to Asian Bank: Offer Part of Clinton Push for Increase in Foreign Aid

Witter, Willis, The Washington Times (Washington, DC)

TOKYO - The United States yesterday pledged more than $600 million to pay its debts and help replenish the Asian Development Bank's fund for the region's poorest nations.

The U.S. offer, made during two days of meetings of the bank's 25 donor nations, is part of a larger push by the Clinton administration for a modest increase in foreign aid after two years of sharp cutbacks.

Washington's pledge is part of a $6.3 billion package to finance the bank's Asian Development Fund (ADF) for the next four years. The fund makes loans of 30 years or more at 1 percent interest for projects such as roads and bridges to Asia's poorest nations.

Congress must still …

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Publication information: Article title: U.S. Offers $600 Million to Clear Debt to Asian Bank: Offer Part of Clinton Push for Increase in Foreign Aid. Contributors: Witter, Willis - Author. Newspaper title: The Washington Times (Washington, DC). Publication date: January 18, 1997. Page number: 8. © 2009 The Washington Times LLC. COPYRIGHT 1997 Gale Group.

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