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ID-78-50 1 (1978-08-15)

handle is hein.gao/gaobaaxuv0001 and id is 1 raw text is: 










                  UNITED STATES GENERAL ACCOUNTING OFFICE
                          WASHINGTON, D.C. 20548

INTEMrNTIONAL DIVISION


                                                        LM106860



      The Honorable Peter V. Domenici
      United States Senate

      Dear Senator Domenici:

           Your letter of April 17, 1978, requested us to provide
      you with information about U.S. financial assistance for
      developing foreign mineral projects. Your letter specifi-
      cally requested information on loans and grants made over
      the last 5 years through multilateral and bilateral lending
      institutions in which the United States is a major contri-
      butor. We compiled this information for the period cover-
      ing 1973 through !977 from unverified published annual re-
      ports of the various international development lending
      institutions and from interviews with agency officials.
      These institutions and agencies included the World Bank
      Group, the Inter-Anterican Development Bank, the Asian
      Development Bank, the Overseas Private Investment Corpora-
      tion, the Agency for International Development, and the
      Peace Corps.

           Five percent i$1.7 billion) of total multilateral
      iLiternational development institutional loans were com-
      mitted to foreign mineral projects. A total of 59 loans
      was authorized; 23 were for steel projects and the rest
      for copper, nickel, aluminum, and other mineral projects.

           Foreign mineral assistance appears to be a low
      priority in U.S. bilateral programs because of the U.S.
      philosophy of supporting projects that directly assist
      the poorest majority of people in less-developed countries.

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