RUSSIA: First Loan?

Subject to parliamentary approvalr Sweden, political arch-enemy of Communism, last week became the first power in all the world to negotiate a direct government loan to Soviet Russia. The loan agreement, announced last week in Moscow, is for 100,000,000 kroner ($26,300,000), big for Sweden, for seven years at 51%. It would shatter once and for all the twelve-year financial blockade by governments against the U. S. S. R. The money must be spent in Sweden, would buy high grade steel for tools, electrical machinery, ball bearings, iron ore.

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