Selected Speeches Of His Imperial Majesty Haile Selassie I
FOREIGN CREDITS
.... As we commented at the beginning of the year, "... capital and labour are necessary ingredients for wealth and prosperity and... these two factors are absolute essentials for the economic development of Our country...". Although Ethiopia possesses abundant natural resources, vast amounts of capital, far in excess of our present means, are needed to develop and exploit these resources for the good of Our people. It was with this in mind that We acquired credits from friendly countries such as the United States of America, Yugoslavia, the Federal Republic of Germany, the Union of Soviet Socialist Republics, and the Republic of Czechoslovakia.
For the purpose of implementing these credits and commercial agreements, numerous missions have been sent and received during the past year. It was with particular gratification, therefore, that, on Our return from Our state visits to Europe, We were able to announce the granting to Ethiopia by the great and friendly Union of Soviet Socialist Republics of a four hundred million rouble loan. This form of assistance will be invaluable to our progress and should be deeply appreciated by Our people. We should all realize that all of such substantial contributions of capital represent years of untiring labour, of strict discipline, and of self-denial on the part of those nations who have thus come to our assistance. We must all recognize that these loans and credits call for those same attributes from us in yet greater measure....
.... In the field of commerce, an agreement has just been concluded, with the United Arab Republic following the arrival of a special mission for that purpose. A mission from the Federal Republic of Germany has recently arrived to discuss the implementation of the credit agreement with that country, and missions are shortly expected from the Union of Soviet Socialist Republics and the Republic of Czechoslovakia to discuss projects and methods of implementing the credits so generously offered. Negotiations are at present being pursued with officials of the Development Loan Fund of the Government of the United States of America to permit the financing of yet other programmes. An economic commission from Italy is expected to arrive in Our Capital in the near future....
November 3, 1959.
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Emperor Haile Sellassie First Theocracy Reign
Order of the Nyahbinghi
June 7, 2017