President Johnson signed the 35 million dollar loan bill to aid the Central American bank in its common market efforts.
LBJ on platform, SOF opens:"A hero today..." closes: "throughout the hemisphere."
President shaking hands with audience, then returning to stand. (natural sound)
LBJ signing (natural sound)
Delgado on stand, SOF opens: "Mr. President..." "hearts of Latin America."
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Background: President Johnson signed the 35 million dollar loan bill to aid the Central American bank in its common market efforts.
For the President it was an unusual personal appearance at the signing. Recalling former President Kennedy's proclamation of the Alliance for Progress four years ago, Mr. Johnson said the spirit aroused by Mr. Kennedy "is gaining substance and reality now, but no more do we see it more than in the lands of Central America."
The reference by Mr. Johnson was to the considerable progress made toward integration by the members of the Central American Common Market: Guatemala, Honduras, El Salvador, Costa Rica, and Nicaragua.
The 35 million dollar loan will go to a fund set up by one of the integration institutions, the Central American bank of integration. The five member countries will contribute 7 million dollars to it and are expected to contribute more later.
The unusual part of the arrangement is all five countries have pledged themselves to allow the money to be apportioned by the bank on the basis of the region's needs, without regard for which country is the beneficiary.
Mr. Delgado, of the Central American Bank for Integration, spoke on behalf of the five countries.