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BEFORE THE

HEARING| 4 - NOV 2 3

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1976
SUBCOMMITTEE ON INTERNATIONAL
DEVELOPMENT INSTITUTIONS AND FINANCE

OF THE

COMMITTEE ON
BANKING, CURRENCY AND HOUSING
HOUSE OF REPRESENTATIVES
NINETY-FOURTH CONGRESS
SECOND SESSION

ON
HOUSE RESOLUTIONS 1399, 1419, AND 1445

EXPRESSING THE SENSE OF THE HOUSE RELATIVE

TO FOREIGN PALM OIL DEVELOPMENT LOANS

SEPTEMBER 15, 1976

Printed for the use of the
Committee on Banking, Currency and Housing

U.S. GOVERNMENT PRINTING OFFICE

COMMITTEE ON BANKING, CURRENCY AND HOUSING

HENRY S. REUSS, Wisconsin, Chairman LEONOR K. (MRS. JOHN B.) SULLIVAN, ALBERT W. JOHNSON, Pennsylvania Missouri

J. WILLIAM STANTON, Ohio THOMAS L. ASHLEY, Ohio

GARRY BROWN, Michigan WILLIAM S. MOORHEAD, Pennsylvania CHALMERS P. WYLIE, Ohio ROBERT G. STEPHENS, JR., Georgia JOHN H. ROUSSELOT, California FERNAND J. ST GERMAIN, Rhode Island STEWART B. MCKINNEY, Connecticut HENRY B. GONZALEZ, Texas

JOHN B. CONLAN, Arizona JOSEPH G. MINISH, New Jersey

GEORGE HANSEN, Idaho FRANK ANNUNZIO, Illinois

RICHARD T. SCHULZE, Pennsylvania THOMAS M, REES, California

WILLIS D. GRADISON, JR., Ohio JAMES M. HANLEY, New York

HENRY J. HYDE, Illinois PARREN J. MITCHELL, Maryland

RICHARD KELLY, Florida WALTER E. FAUNTROY,

CHARLES E. GRASSLEY, Iowa District of Columbia

MILLICENT FENWICK, New Jersey
LINDY (MRS. HALE) BOGGS, Louisiana RON PAUL, Texas
STEPHEN L. NEAL, North Carolina
JERRY M. PATTERSON, California
JAMES J. BLANCHARD, Michigan
CARROLL HUBBARD, JR., Kentucky
JOHN J. LAFALCE, New York
GLADYS NOON SPELLMAN, Maryland
LES AUCOIN, Oregon
PAUL E. TSONGAS, Massachusetts
BUTLER DERRICK, South Carolina
PHILIP H. HAYES, Indiana
MARK W. HANNAFORD, California
DAVID W. EVANS, Indiana
CLIFFORD ALLEN, Tennessee
NORMAN E. D'AMOURS, New Hampshire
STANLEY N. LUNDINE, New York

PAUL NELSON, Clerk and Staff Director
WILLIAM P. Dixon, General Counsel
MICHAEL P. FLAHERTY, Counsel

GRASTY CREWS II, Counsel
ORMAN S. FINK, Minority Staff Director
GRAHAM T. NORTHUP, Deputy Minority Staff Director

SUBCOMMITTEE ON INTERNATIONAL DEVELOPMENT INSTITUTIONS AND FINANCE

HENRY B. GONZALEZ, Texas, Chairman PAUL E. TSONGAS, Massachusetts ALBERT W. JOHNSON, Pennsylvania LINDY (MRS. HALE) BOGGS, Louisiana HENRY J. HYDE, Illinois ROBERT G. STEPHENS, JR., Georgia CHARLES E. GRASSLEY, Iowa JAMES M. HANLEY, New York

MILLICENT FENWICK, New Jersey THOMAS M. REES, California

RON PAUL, Texas
WALTER E. FAUNTROY,

District of Columbia
CARROLL HUBBARD, JR., Kentucky
DAVID W. EVANS, Indiana
NORMAN E. D'AMOURS, New Hampshire

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de la Garza, Hon. E “Kika,” a Representative in Congress from the State

of Texas.

Johnson, Seymour, chairman of the board, American Soybean Association ;

accompanied by Dr. William Kling, Washington representative of the

association
Mathis, Hon. Dawson, a Representative in Congress from the State of

Georgia
Moore, Hon. W. Henson, a Representative in Congress from the State of

Louisiana
Poage, Hon. W. R., a Representative in Congress from the State of Texas.-

ADDITIONAL INFORMATION SUBMITTED FOR THE RECORD
American Soybean Association, statement presented by Seymour Johnson,

chairman of the board..----

de la Garza, Hon. E “Kika":

Prepared statement

Statement submitted on behalf of Texas Citrus Exchange and Texas

Citrus Mutual

Gonzalez, Chairman Henry B.:

Asian Development Bank, lending to the fisheries sector.---

Inter-American Development Bank, lending in 1961-75 in the agricul-

tural sector, loans for fishing industry---

"USITC Recommends Adjustment Assistance for Shrimpers," news

release from U.S. International Trade Commission, dated May 11,

1976

World Bank loans to :

Citrus production (table) -------

Fishing industry:

Latin America

Worldwide, fiscal years 1974–75.

"1FI Lending for Palm Oil, 1963–75," information submitted by staff of

subcommittee upon request of Congressman Charles E. Grassley.--

International Trade Commission, U.S., news release dated May 11, 1976.-

Johnson, Seymour, prepared statement-

Mathis, Hon. Dawson, prepared statement.

Attachments:

Letter from Hon. William E. Simon, Secretary of the Treasury,

dated August 10, 1976, regarding recent action taken by the Na-

tional Advisory Council (NAC) of IFI financing of palm oil

projects

"Palm Oil Projects Presently Being Prepared for Board Consid-

eration," list of "small pipeline loans".

"United States to Stop Funds for Palm Oil Development," news

release from Department of Agriculture dated July 29, 1976.-

Poage, Hon. W. R., prepared statement.--
Texas Citrus Exchange and Texas Citrus Mutual, statement presented on

behalf of by Congressman de la Garza---
Treasury Department, letter dated August 10, 1976 from Secretary William

Simon to Congressman Dawson Mathis --

World Bank information note, supplied upon request of Congressman

Charles E. Grassley-

(III)

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