Christian Soienoo Monitor, Feb.?, 1940.
n
Inter-American
Bank Is Approved
WASHINGTON, Feb. 7 W) —
The Permanent Economic and
Financial Advisory Committee of
the American Republics voted to-
day to ask their governments to
sign a convention establishing a
$100,000,000 inter-American bank.
The Committee also approved a
draft of proposed bank statutes
according the institution nine
purposes and 15 specific powers.
The bank would become opera-
tive when the convention is rati-
fied by five nations subscribing to
at least 145 shares of the bank's
stock, representing $14,500,000 of
the total proposed 5100,000,000
capital.