Miscellaneous - This Day That Age   

dated February 22, 1958: Canadian aid

An agreement providing for a loan of 25 million dollars by Canada to India to purchase 400,000 tonnes of Canadian wheat was signed in Ottawa on February 20, according to a press note issued by the Canadian High Commissioner in New Delhi. The agreement was signed by the Canadian Minister of Finance, Mr. Donald M. Fleming and the Indian High Commissioner in Canada, Dr. M.A. Rauf. The 25 million dollars loan is to be repaid in seven equal annual instalments beginning March 31, 1961.

It will bear interest at the rate of four and a half per cent payable annually beginning March 31, 1959. Under the terms of the agreement, the Canadian Government will advance, at the request of the Government of India, funds to the Canadian Wheat Board to pay for wheat purchased by India during the current crop year.

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